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In the present study, the characterisation of phase stability and measurement of different thermophysical properties of alloy 740 has been carried out. The transformation temperatures including liquidus/solidus and corresponding enthalpy of transformation have been measured for different phase changes up to melting using dynamic calorimetry. Further, the enthalpy increment data have been measured in the temperature range of 473–1473 K to obtain the heat capacity using static calorimetry. The present calorimetric data have been analysed in corroboration with the results obtained using JMatPro and Thermo-Calc simulation. In addition, the temperature dependence of other thermophysical properties such as thermal expansivity, density, thermal diffusivity and thermal conductivity are also measured in the range of 300–1473 K using thermomechanical analyser and laser flash method.