A comprehensive comparative study of the structure, phase composition, and mechanical properties of heat-resistant nickel-based Ni-Cr-(X) alloys produced by the methods of traditional metallurgy and self-propagating high-temperature synthesis (SHS metallurgy) is carried out. With the purpose of formation of the submicrocrystalline structure, a longitudinal rolling and post-deformation annealing of the cast alloy is performed. The microstructure of the heat-resistant alloys is investigated by the SEM and TEM methods. It is shown that the cast alloy has a recrystallized structure with the mean grain size of ~1 μm and the particles of chromium carbides have a size of ~1-3 μm. After rolling and subsequent annealing (750°C/1 h), the average grain size is reduced to 0.43 μm and the formation of dispersed particles of carbides 100 nm in size is observed. The structure of the alloy obtained by SHS metallurgy is dendritic, and particles of W and Cr are absent. When 0.1 wt % carbon powder is added to the initial powder mixture for SHS synthesis, formation of the network of W and Cr particles is observed along the boundaries of dendrite colonies. It is found that the SHS Ni-based heat-resistant alloy similar in composition to commercial cast alloy is characterized by improved mechanical properties and increased heat resistance compared to the cast alloy in both the coarsegrained and the submicrocrystalline state. Adding the carbon powder to the powder mixture for SHS leads to a further increase in the resistance to high-temperature deformation owing to formation of the carbide phase impeding the movement of dislocations and grain boundary creeping processes.