Microstructural evolution during a heat treatment and high-temperature tensile properties have been investigated in conventionally cast CM247LC. In as-cast specimens, MC carbides with high amounts of Ta, Ti, Hf, and W were found to exist in the interdendritic regions, and γ' was observed in the form of cubes and octocubes prior to decomposition into cubes. In the heat-treated condition, some portion of eutectic γ-γ' remained, and uniform cubic γ' was observed in both interdendritic regions and dendrite core. Three types of carbides with different stoichiometries and compositions were found at the grain boundaries. MC carbides with high Hf contents were observed in the vicinity of eutectic γ-γ'. The highest tensile strength value was found at 750℃, whereas the greatest ductility appeared at 649℃. The effect of the temperature on the tensile properties was closely related to the dislocation structure. With increase in the test temperature, the density of dislocations inside γ' decreased, whereas that in the γ matrix increased. Stacking faults generated in γ' at 750℃ had a strengthening effect, whereas thermally activated dislocation motion at a high temperature was considered to have the opposite effect.