Nickel-iron Alloy 718 is widely used for fabricating parts by superplastic deformation. Refinement of grains down to a nanostructure (NS) size improves the alloy’s processing properties. Thermomechanical treatment has been carried out to form a NS state in bulk alloy by multiple isothermal forging (MIF) at gradually decreasing temperatures. Investigation of superplastic properties and processing behavior of Alloy 718 has been performed. The alloy with a grain size of 80 nm displays superplasticity (SP) at a temperature which is lower than for a conventional fine grained alloy by about 350°C. The values of the relative elongation and the strain rate sensitivity coefficient m are 350% and 0.37, respectively. The experimental data on the influence of grain size on solid-state weldability in the range of SP have been obtained. The application of the effect of low temperature SP yields lower temperatures of superplastic forming (SPF) and pressure welding (PW) as compared with conventional SP of fine-grained material. The experiment of the combined process of SPF and PW by counter-forming of two polished sheets, demonstrates its low temperature processing feasibility using NS specimens. The SPF processing of NS sheets in a cylindrical die has been investigated. It has revealed that macro-deformation is uniform in cross and longitudinal sections. Mechanical properties of Alloy 718 in NS condition and after strengthening heat treatment have been discussed.