The cast nickel-based superalloy K417G exhibits excellent high-temperature strength, but non-equilibrium solidification during casting can cause defects such as irreparable interdendritic microporosity, which significantly degrades its fatigue and creep properties. This study uses hot isostatic pressing (HIP) to eliminate internal flaws such as porosity in the K417G alloy, aiming to improve its mechanical properties. We investigated the microstructure and mechanical properties of K417G under two thermal conditions: solution heat treatment (SHT) and hot isostatic pressing (HIP). The results indicate that HIP significantly reduces microporosity. Compared to SHT, HIP improves the mechanical performance of K417G. The creep fracture mechanism shifts from intergranular brittle fracture (SHT) to ductile fracture (HIP). Consequently, HIP increases the alloy′s creep life approximately threefold and raises its fatigue limit by about 20 MPa. This improvement is attributed to pore density reduction, which decreases stress concentration zones and homogenizes the microstructure, thereby impeding fatigue crack nucleation and extending the crack incubation period.