Ni-Cr-Al-Y superalloy foil with 0.2 mm thickness was fabricated by EB-PVD process, and its microstructure and mechanical properties were studied by SEM and TEM as well as mechanical analysis. The results show that there are column crystals in the as-deposited samples, which contribute to growing pattern of grains during the process of superalloy, and column crystals transform into equiaxed crystals after vacuum heat treatment at 760 ℃ for 16 h, and γ′phase is observed. Factograghs of tensile specimens show that brittle rupture occur along the intergranular of column crystals of as-deposited specimens, which attribute to the loose structures with weak cohesion between column crystals, and the fractures of annealed specimens are tough fractures. Test results of mechanical properties show that mechanical properties at round and high temperature are improved sharply, compared with those as-deposited specimens. The tensile strength of annealed specimens is 587.6 MPa,and the fracture strain is 11.3%.