The present study investigates the effects of multiple passes of equal channel angular pressing (ECAP) on magnesium alloy sheets with the assistance of an Inconel plunger along with a die setup having a channel angle of 120° and corner angle of 10° operating at a temperature of 200 °C followed by the required heat treatment processes. The microstructural analysis of the sheet samples at various stages of the multi-pass hot ECAP has shown evidence of ultrafine grain refinement (UFG) due to the occurrence of severe plastic deformation. X-ray diffraction analysis has also exhibited the presence of phases like MgZn and CeZn₃ which is supposedly responsible for the enhancement of the mechanical properties. As a result, the room temperature tensile and compressive strengths have improved by 6.12% and 6.63%, respectively, after the second pass, and 11.56% and 15.64%, respectively, after the fourth pass of ECAP. Additionally, the hardness of the sheets has increased by 6.49% and 16.64% after the second and fourth pass of hot ECAP, respectively, mainly attributed to the drastic decrease in grain size from 164 μm to 12 μm within four ECAP passes, all these with a negligible change in ductility. This success in the thermomechanical processing of Mg-RZ5 alloy sheets using a die channel angle of 120° with a minimal number of passes of hot ECAP under a controlled equivalent strain, further opens doors for incorporating optimizations and/or additional aspects so as to achieve even better grain refinements, and consequently, mechanical strength improvements thereby catering to the industrial needs of aerospace and construction areas.