In this work, cold-rolling was utilized to induce a high density of crystal defects in Al_0.3CoCrFeNi high-entropy alloys. The effects of annealing temperature on static recrystallization, precipitation behavior and mechanical properties were investigated. With increasing annealing temperature from 590 °C to 800 °C, the area fraction of recrystallized region increases from 26.9% to 93.9%. Cold-rolling deformation largely promotes the precipitation of B2 phases during annealing, and the characteristics of the precipitates are linked to recrystallization level. The coarse and equiaxed B2 phases exist in the recrystallized region and the fine and elongated B2 phases occupy the non-recrystallized region. Combined use of cold-rolling and annealing can remarkably enhance the strength and toughness. A partially recrystallized microstructure in a cold-rolled sample annealed at 700 °C exhibits a better combination of strength and toughness than a fully recrystallized microstructure in a cold-rolled sample annealed at 800 °C. Finally, related mechanisms are discussed.