Hot deformation behavior of an extruded Mg–10Li–1Zn alloy (LZ101) was studied by compression testing in the temperature range of 523–723 K and strain rates of 0.001–0.1 s−1. The processing maps were developed for the samples deformed to strains of 0.25 and 0.55. These maps exhibit domains of safe regions in the temperature range of 648–698 K and 548–598 K and strain rates of 0.001–0.01 s−1 for the samples deformed to the strain of 0.25. The safe region for the samples deformed to the strain of 0.55 was, however, found to be in the temperature range of 548–598 K and strain rates of 0.001–0.01 s−1. According to the processing maps, instability regions were also identified to be in the temperature range of 523–573 K and strain rates of 0.01–0.1 s−1 for samples deformed to both strains of 0.25 and 0.55. Each domain was characterized by its corresponding microstructure. In addition, the flow stress of the Mg–10Li–1Zn alloy at elevated temperatures was modeled via an Arrhenius-type constitutive equation. The values of the power-law stress exponents in the range of 4.8–5.2, obtained from the Arrhenius-type model, indicate that the dominant mechanism during hot deformation of the Mg–10Li–1Zn alloy is dislocation climb.