Hot deformation behavior of GCD-50 cast iron has been investigated by employing the compressive test. Phenomenological deformation behaviors, which were modeled based on the dynamic materials model and the kinetic model, have been correlated with the microstructural change taken place during compression. Microstructural investigation revealed that the adiabatic shear band caused by the locallized deformation was taken place in low temperature and high strain rate. On the other hand, the wavy and curved grain boundaries, which repersent the occurrence of dynamic microstructure change such as dynamic recovery and dynamic recrystallization, were observed in high temperature and low strain rate. Deformation model based on hyperbolic sine law has also been suggested.