Al-Cu-Mg-Ag new-type heat-resisting aluminum alloy was aged by cyclic creep with a rectangle wave load. The effect of cyclic creep aging on the microstructure and properties of Al-Cu-Mg-Ag alloy was researched by mechanical performance test, corrosion resistant performance tests, and combined with electrochemical analysis, transmission electron microscopy analysis and metallographic microscopic analysis, etc.. The results show that cyclic creep aging can improve the mechanical properties and corrosion resistance of the alloy. Cyclic creep aging can refine the precipitations both in the grains and on the grain boundaries, and can also promote the precipitation of θ' phase. The width of the precipitation free zones (PFZ) is reduced and the grains are stretched along the creep direction. The sample cyclic creep aged with a load of 200 MPa has the best comprehensive performance.