The mechanical properties and deformation microstructure of cast 304 Cu-containing austenitic stainless steel at 10−3/s strain rate in the range of 700~1200 °C were studied by Gleeble thermal simulator, metallographic microscope and scanning electron microscope. The results showed that the thermoplasticity of 304 Cu-containing austenitic stainless steel was higher than 60% when the temperature was higher than 1000 °C, and the tensile strength as a whole decreased with the increase in temperature. During the tensile process, the morphology and content of ferrite in the test steel were the main factors affecting the high-temperature thermoplastic of the billet. The inclusions near the fracture and the existence of ferrite at the grain boundary greatly affected the formation of microcracks and holes and the fracture.