This study performed high-temperature compression tests at the temperature 900 to 1200 °C and strain rate 0.01 to 10 s⁻¹ to characterize the high-temperature deformation behavior of AISI 4340. The constitutive equation of AISI 4340 was expressed using the Arrhenius model and the Zener–Hollomon (Z) parameter. Dynamic Recrystallization (DRX) behavior was evaluated by observing the compressed specimen with Electron Backscatter Diffraction (EBSD). The processing map is based on the dissipation efficiency of the dynamic material model (DMM) and the plastic instability criterion of Ziegler. At strain 0.4, the power dissipation efficiency value is 0.5 or more, and the instable zones are immediately identified through the processing map. The strain, strain rate and temperature data obtained from the FEM simulation of the hot forging process are displayed on the proposed 3D processing map to avoid the flow instability zones and ensure high power dissipation efficiency zones, allowing the operator to control the process’s temperature and speed.