Heavy deformation plus micro alloying could be an effective way to obtain ultrafine grain structure of metals. In the present work, an Al-Cu-Mg alloy was microalloyed with Zr to obtain homogeneous precipitates and then heavily deformed by conventional forging at high temperature. The possible refining processing routes were studied and the superplasticity behaviors of the alloy was investigated. Results show that the micro alloyed alloy can be stably refined to 3-5μm under conventional processing routes. The Al-3Zr precipitates act both as additional sites to enhance recrystallization nucleation rate and pins to impede grain growth to increase the thermal stability of the fine grain structure. However, as the Al3Zr precipitates remains along grain boundaries, the superplastic capability of the material is not high. At 430°C with 1×10-4S-1 strain rate, the elongation obtained was 260%.