The flow softening behaviors of a nickel-based superalloy with δ phase are investigated by hot compression tests over wide ranges of deformation temperature and strain rate. Electron backscattered diffraction (EBSD), optical microscopy (OM), and scanning electron microscopy (SEM) are employed to study the flow softening mechanisms of the studied superalloy. It is found that the flow softening behaviors of the studied superalloy are sensitive to deformation temperature and strain rate. At high strain rate and low deformation temperature, the obvious flow softening behaviors occur. With the increase of deformation temperature or decrease of strain rate, the flow softening degree becomes weaken. At high strain rate (1s−1), the flow softening is mostly induced by the plastic deformation heating and flow localization. However, at low strain rate domains (0.001-0.01s−1), the effects of deformation heating on flow softening are slight. Moreover, the flow softening at low strain rates is mainly induced by the discontinuous dynamic recrystallization and the dissolution of δ phase (Ni3Nb).