Recent works on fabrication of bulk ultrafine-grained (UFG) metals and alloys with a grain size less than 1 mum have provided new opportunities to considerably enhance superplastic properties through attaining superplasticity at low temperatures and high strain rates. Among different techniques for processing UFG materials severe plastic deformation (SPD) has a special interest because it enables the refinement of microstructure till submicron and nanometer range in different metallic materials, including commercial cast alloys and intermetallics. The present paper overviews recent achievements in this field and focuses on requirements to microstructure in order to obtain enhanced superplasticity in UFG materials.