Superalloys are heat-resistant alloys based on iron, nickel-iron, nickel or cobalt, exhibiting high creep and rupture strength at elevated temperatures. A number of both wrought (produced through ingot metallurgy route) and cast grades of superalloys have been developed over the years. There is also a group of superalloys produced through powder metallurgy route. This article focuses on the metallurgy, high temperature mechanical properties and applications of conventional wrought superalloys based on iron, nickel and cobalt. A number of wrought superalloy grades have become commercially available over the last seven decades; the emphasis was on the development of alloys with higher and higher creep resistance. A noteworthy feature of wrought nickel base superalloys available today is their heat-resistance upto 80% of their incipient melting temperature, a fraction that is higher than for any other class of engineering alloys. There have been a number of processing discoveries which helped in development of wrought superalloys with higher and higher performance levels. The strengthening mechanisms that come into play in different groups of wrought superalloys have been well understood. Certain trace elements play a major role in superalloys and there have been a number of studies dealing with underlying mechanisms. Considerable progress has been achieved with reference to understanding the metallurgical stability of wrought superalloys under high temperature loading conditions and its relation to chemical composition. While non-aerospace applications have been there, prominently in the power generation sector, aerospace accounts for the major part of the consumption of the wrought superalloys. Developments in wrought nickel-iron and nickel base superalloys over the decades have importantly contributed to the evolution of modern high performance jet engines. © 2011 by Nova Science Publishers, Inc. All rights reserved.