An oxygen free high conductivity (OFHC) copper (99.99%) was intensely deformed by the accumulative roll-bonding (ARB) process up to equivalent strain of 4.8 at ambient temperature. The microstructure evolution during the ARB process was explained by grain subdivision. The deformed specimens revealed dislocation cell structures at low strain and elongated ultra fine grains separated by high angle boundaries at high strain. The spacing of the high angle lamellar boundary exponentially decreased as a function of strain. The fractions of high angle boundaries (HAB) and the low angle boundaries (LAB) were nearly equal even at strain of 3.2, which was significantly different from the ARB processed Al alloys and ferritic steel where the HAB fraction was above 70% at the same strain. TEM observations indicated a mixed microstructure of dislocation boundaries and cell walls with dislocation tangle at low strain of 1.6, and small recrystallized grains partly appeared above strain of 3.2. As a result, the LAB fraction due to partial recrystallization was high even at strain of 4.8. The occurrence of recrystallization is attributed to high purity of the OFHC copper, the accumulated dislocation density, and the adiabatic heating during the ARB process of one-pass large reduction without lubrication.