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Ultra high-strength Mg–8.2Gd–3.8Y–1.0Zn–0.4Zr alloy sheet was prepared by large-strain hot rolling and subsequent ageing process. The sheet exhibits excellent tensile properties at ambient temperature with ultimate tensile strength of 517MPa, 0.2% proof stress of 426MPa and elongation to failure of 4.5%. The notable improvement in strength is attributed to the dense distribution of the fine precipitates inside the grains, scattered precipitates at the grain boundaries, bimodal grain size distribution with fine recrystallized grains and large deformed grains with intense basal texture.