A deoxidized low-phosphorous copper processed by eight cycles of accumulative roll-bonding (ARB) was annealed at various temperatures ranging from 100 to $400^{circ}C$. The annealed copper was characterized by transmission electron microscopy (TEM) and tensile & hardness test. TEM observation revealed that the ultrafine grains developed by the ARB still remained up to $350^{circ}C$, however above $400^{circ}C$ they were replaced by equiaxed and coarse grains due to an occurrence of the static recrystallization. The hardness of the copper decreased slightly with the annealing temperature up to $350^{circ}C$, however they dropped largely above $400^{circ}C$. Annealing characteristics of the copper were compared with those of an oxygen free copper processed by ARB and subsequently annealed.