The effect of annealing on precipitation, microstructural stability, and mechanical properties of cryorolled Al 6063 alloy has been investigated in the present work employing hardness measurements, tensile test, XRD, DSC, EBSD, and TEM. The solution-treated bulk Al 6063 alloy was subjected to cryorolling to produce ultrafine grain structures and subsequently annealing treatment to investigate its thermal stability. The CR Al 6063 alloys with ultrafine-grained microstructure are thermally stable up to 250 °C as observed in the present work. Within the range of 150–225 °C, the size of small precipitate particles is <1 μm. These small precipitate particles pin the grain boundaries due to Zener drag effect, due to which the grain growth is retarded. The hardness and tensile strength of the cryorolled Al 6063 alloys have decreased upon subjecting it to annealing treatment (150–250 °C).