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Hot compression deformation behavior of the Cu-0.45Cr-1.0Ni-0.28Si-0.14Co alloy was studied by a thermal-mechanical simulator at strain rates of 0.001–1 s−1 and deformation temperatures of 700–900°C. The microstructure and texture of the copper alloy after the hot compression deformation were investigated. The results showed that the flow behavior of the Cu-Cr-Ni-Si-Co alloy was significantly affected by the deformation temperature and strain rate. The typical dynamic recrystallization (DRX) occurred at high temperatures and low strain rates, while the typical dynamic recovery (DRV) appeared at low temperatures and high strain rates. When the deformation temperature increased from 700°C to 900°C, a transition from copper and S texture to gross texture was found. The value of hot deformation activation energy (Q) was calculated as 330.87 kJ/mol. The optimized hot deformation parameters for the Cu-Cr-Ni-Si-Co alloy were 800–850°C/0.01–0.1 s−1.