The non-dendritic microstructure plays a crucial role in determining the rheological properties of semi-solid alloys, which are of the utmost importance for the successful industrial application of the thixoforging process. To further understand the impact of the reheating process on the evolution of microstructure and thixotropic deformation behavior in the semi-solid state, a hot extruded and T6 treated 7075 aluminum alloy was reheated to the selected temperature ranges using varying heating rates. Subsequently, thixo-compression tests were performed. The study found that during reheating and isothermal holding, the elongated microstructure of the as-supplied alloy can transform into equiaxed or spherical grains. The presence of recrystallized grains was found to be closely linked to the penetration of the liquid phase into the recrystallized grain boundaries. Furthermore, it was observed that higher heating rates resulted in smaller grain sizes. The thixotropic flow behavior of the alloy with various microstructures was analyzed using the true stress–strain curves obtained by thixo-compression experiments, which exhibited three stages: a rapid increase in true stress to a peak value, followed by a decrease in true stress and a steady stress until the end of compression. The stress fluctuated with strain during the formation of the slurry at a strain rate of 10 s−1, indicating the significant role of strain rate in material flow during semisolid formation.