FGH96 is a powder metallurgy Ni-based superalloy used for turbine disks of aero-engines. In the present study, room-temperature pre-tension experiments with various plastic strain were conducted for the P/M FGH96 alloy, and subsequent creep tests were conducted under the test conditions of 700 °C and 690 MPa. The microstructures of the pre-strained specimens after room-temperature pre-strain and after 70 h creep were investigated. A steady-state creep rate model was proposed, considering the micro-twinning mechanism and pre-strain effects. Progressive increases in steady-state creep rate and creep stain within 70 h were found with increasing amounts of pre-strain. Room-temperature pre-tension within 6.04% plastic strain had no obvious influence on the morphology and distribution of γ′ precipitates, although the dislocation density continuously increased with the increase in pre-strains. The increase in the density of mobile dislocations introduced by pre-strain was the main reason for the increase in creep rate. The predicted steady-state creep rates showed good agreement with the experiment data; the creep model proposed in this study could capture the pre-strain effect.