Cu–Cr–Zr alloy is considered as a potential material for the interior wall of combustion chamber in cryogenic rocket engine that has two walls and is cooled in a regenerative manner. Given their ability to effectively absorb and dissipate heat generated in the operation, the utilization of these alloys is being investigated to safeguard the components from damage. Understanding the performance of Cu–Cr–Zr alloys under low-cycle fatigue loading conditions is imperative for their application, where components undergo thermal cycling due to the system's pulsed operation. In the present study, high-temperature low-cycle fatigue behavior (HTLCF) of Cu–Cr–Zr alloy under two different heat treatment conditions, ‘solution-treated’ and ‘aged’, has been studied at 500 °C over ± 0.25 to ± 1.00 pct strain amplitude. The purpose of this study is to understand and compare in situ aging effect of solution-treated specimens on HTLCF behavior with that of aged specimens at 500 °C. The results have been analyzed and compared in terms of cyclic stress response, cyclic life and Coffin–Manson behavior. It is found that at the tested temperature the Cu–Cr–Zr alloy follows Coffin–Manson relationship both under solution-treated and aged conditions. In the present experimental domain the alloy under solution-treated condition is found to possess higher cyclic life when compared with aged specimens while an opposite trend is observed at higher strain amplitude range. The evolution of precipitates and dislocation substructure have been studied using transmission electron microscopy.