Irreversible deformation in relation to the microstructure was investigated for a polycrystalline Ni-based superalloy (Alloy 718) from room temperature to 650 °C using high-resolution digital image correlation (HR-DIC) techniques. Interrupted tensile tests were performed under a protective atmosphere to ensure the stability of the speckle pattern to track kinematics fields from surface analyses. In-plane strain localization was captured using HR-DIC on scanning electron microscopy (SEM) images. A statistical analysis of different strain localization events in relation to the microstructural features was conducted, i.e., intragranular slip localization, slip localization parallel to and near Σ3-twin boundaries (Σ3-TB), and grain boundary sliding (GBS). Alloy 718 exhibited slip localization at room temperature and 350 °C. Intense strain localization develops parallel and in the vicinity of Σ3-TB from the onset of the microplasticity. Few intense slip stimulated-grain boundary sliding events were found due to slip localization on both grains adjacent to the grain boundary. At 650 °C, Alloy 718 experienced grain boundary sliding at the onset of the yield without particular slip localization in adjacent grains. At lower temperatures, strain localization parallel to and near Σ3-TB was intense, and intragranular slip localization intensified with increasing macroscopic deformation. Particular microstructural configurations were found at 650 °C leading to premature damage: (i) sub-surface cavitation at grain boundaries, and (ii) grain boundary cracking due to intense shearing near a Σ3-TB.