Abstract: Nickel-based superalloys have good fatigue and creep properties due to their unique γ' phase, and have wide application in aerospace and high-parameter power generation industries. The effect of γ' phase on the strengthening behavior of nickel-based superalloys from aspects of size and content of γ' phase and dislocation strengthening, and the strengthening mechanisms of interaction between dislocations and precipitates, including shear, Orowan bypass and climb, are described. The influence of γ' phase on fatigue and creep properties of nickel-based superalloys is discussed. Finally, the optimization of γ' phase and associated performance control of nickel-based superalloys are prospected.