The compression deformation behavior and deformation mechanisms of 001-oriented single crystal CM247LC are investigated at 600 °C and at the strain rate of 5 × 10−6 to 5 × 10−3 s−1. We found that although the Protevin-Le Châtelier effect appears during plastic deformation under the investigated strain rates, its yield strength is strain-rate insensitive. Transmission electron microscopy observations on the slightly deformed specimens reveal that in contrast to previous findings, shearing of γ′ precipitates is accomplished by pairs of a/2  dislocations as well as partial dislocations, which result in the formation of superlattice stacking faults and extended stacking faults, in the experimental alloy at the early stage of plastic deformation at all the strain rates. Meanwhile, it is also found that the frequency of occurrence of the two shear processes is not influenced by the strain rate. Based on these observations, the formation of stacking faults and the relationship between operative deformation mechanisms and the yield strength of the experimental alloy are discussed. •The PLC effect appears in CM247LC during compressive deformation at 600 °C.•The yield strength of CM247LC is strain-rate insensitive.•Stacking fault shearing operates in CM247LC at all the studied strain rates.•The process of stacking fault shearing is not rate-controlled.