<p>In order to simultaneously improve the mechanical properties and corrosion resistance of spray formed Al-12.3Zn-2.2Mg-1.5Cu alloy, a heat treatment method combining T8I4 treatment and deep cryogenic treatment (DCT) was proposed. The microstructure of the alloy was examined utilizing confocal laser scanning microscopy and transmission electron microscopy. The properties of the alloy were studied through hardness measurement, tensile testing, friction and wear testing, and electrochemical corrosion testing. Compared with the heat treatment method combining T6I4 treatment and DCT, the alloy treated with T8I4 treatment and DCT has significantly improved hardness, tensile strength, and wear resistance. Additionally, the corrosion resistance of the alloy was also improved to some extent. Based on analysis, the MPts in the alloy with a deformation of 2% possessed the highest pinning force on dislocation, and the alloy possessed the highest hardness, strength, and optimal wear resistance. The grain boundary precipitates of the alloy with a deformation of 1% exhibited discontinuous distribution, making corrosion difficult to develop.</p>