The effects of solution and aging heat treatments on the evolution of γ' precipitates and the mechanical properties of cast IN738 nickel-based superalloy were systematically investigated. Solution treatments were performed at 1,150, 1,200, and 1,250℃ for 4 h, followed by furnace cooling, air cooling, or water quenching. Aging treatments were subsequently conducted at temperatures ranging from 650 to 1,150℃. The microstructural evolution of γ' precipitates was quantitatively characterized using field-emission scanning electron microscopy and image analysis, while mechanical properties were evaluated by Rockwell hardness and room-temperature tensile tests. Differential thermal analysis revealed that complete dissolution of γ' precipitates occurred at approximately 1,250℃. The cooling rate significantly influenced γ' precipitation behavior, with furnace cooling producing coarse γ' precipitates and rapid cooling promoting a fine and uniformly distributed secondary γ' structure. Increasing the aging temperature resulted in significant γ' coarsening through Ostwald ripening, accompanied by increases in precipitate size and area fraction. The highest hardness and ultimate tensile strength were obtained after aging at approximately 781℃ due to the formation of fine coherent γ' precipitates. At higher aging temperatures, precipitate coarsening reduced precipitation strengthening, whereas partial recovery of mechanical properties at 1,050℃ was attributed to changes in g/γ' lattice misfit and coherency strain. These results demonstrate that the mechanical performance of IN738 is governed by the combined effects of γ' morphology, distribution, and lattice coherency, providing valuable guidelines for optimizing heat-treatment processes of nickel-based superalloys for high-temperature turbine applications.