In this study, a comprehensive investigation was conducted to explore the microstructural evolution, texture characteristics, and mechanical properties of extruded Mg-9Gd-3Nd-1Zn-1Sn-0.5Zr alloys with varying extrusion ratios (ERs). Moreover, the high-temperature mechanical properties of the alloy and analyzed the corresponding fracture mechanisms were investigated. The findings unveiled a refinement in grain size and an improvement in homogeneity with increasing ER. Such refinement coincided with the disruption of coarse Mg _5 (Gd, Nd, Zn) eutectic phases, facilitating dynamic recrystallization. As a result, the extruded alloy manifested small grains, significant orientation difference in grain boundaries, and a weakened texture. In particular, the average grain size in the extrusion direction (ED) diminished to 13.29 μ m (ER4), 9.62 μ m (ER16), and 4.05 μ m (ER25). And the ED texture of the ER4 alloy featured a strong (0001) basal bimodal pattern, whereas the ER16 and ER25 alloys showcased a random texture. Furthermore, the ER25 alloy displayed notable work hardening at temperatures of 200 °C or below, exerting a significant influence on its stress–strain curve. The ultimate tensile strength (UTS) of the alloy remained consistently above 275.09 MPa, demonstrating ductile fracture characteristics characterized by numerous dimples at temperatures of 200 °C or higher. The study identified the second phase as the primary contributor to enhancing the high-temperature tensile characteristics of the alloy. In summary, this research developed a unique high-strength Mg-9Gd-3Nd-1Zn-1Sn-0.5Zr alloy characterized by fine grain and texture strengthening. The alloy exhibited remarkable stability at temperatures of 250 °C or lower, making it a promising candidate for applications in high-temperature applications.