The fine-fibrous nonrecrystallized structure determines substantial tensile property anisotropy of hot rolled 1424 alloy sheets. In the present work the possibility of producing a fully recrystallized structure in cold rolled sheets was investigated. To improve a technological plasticity a cold rolling was performed after preliminary annealing of hot rolled sheets. The technological plasticity was studied by means of determination a critical deformation degree at plane strain compression at room temperature. The phase composition of hot rolled and annealed sheets was investigated using TEM and X-ray analysis. The uniform fine-grained and fully recrystallized structure in sheets was obtained after rolling with preliminary annealing at 350-380°C and final solid solution treatment. After the indicated above annealing the maximum volume fraction of the equilibrium S1-phase precipitates was observed in the alloy. After cooling in air from the annealing temperature it was found a very small quantity of δ′-phase and after slow cooling with the furnace this phase was practically absent. The fully recrystallized structure in sheets provides a substantial decrease of the tensile property anisotropy in three d irections.