Nickel liner of shaped charge with nano-sized grains was prepared by electroforming technique and the ultra-high- strain-rate deformation was performed by explosive detonation. The as-electroformed and post-deformed microstructures of electroformed nickel liner of shaped charge were observed by optical metallography (OM), scanning electron microscopy (SEM) and transmission electron microscopy (TEM) and the orientation distribution of the grains was analyzed by electron backscattering pattern (EBSP) technique. Both melting phenomenon in the jet fragment and recovery and recrystallization in the slug after ultra-high-strain-rate deformation were observed. The research evidence shows that dynamic recovery and recrystallization play an important role in ultra-high-strain-rate deformation for electroformed nickel liner of shaped charge with nano-sized grain.