Thermal annealing is an important process to improve the power conversion efficiency (PCE) of bulk-hetero junction organic solar cells (BHJ OSCs) by inducing micro-structural changes within the active layer blend's constituents leading to amelioration of charge transfer/transport dynamics and interfacial properties. This work investigates the impact of thermal annealing on the photovoltaic performance ofPoly[[4,8-bis[(2-ethylhexyl)oxy]benzo[1,2-b:4,5-b']dithiophene-2,6-diyl][3-fluoro-2-[(2-ethylhexyl)carbonyl]thieno[3,4-b]thiophenediyl]] (PTB7):[6,6]-Phenyl C71-butyric acid methyl ester (PC71BM) (PTB7:PC71BM) thin film blend in the presence of DIO (1,8 -Diiodooctane) additive, at different annealing temperatures (40, 60 and 80 degrees C) and correlates with the performance of DIO-free devices investigated under similar annealing conditions. Our results show that DIO-containing (w/DIO)blends, annealed at moderate temperature (40 degrees C) for 1 h exhibit significantly improved short circuit current (Jsc)as well as fill factor (FF) and hence 25% improvement in PCE over bench dried (unannealed) DIO-containing blend films. Interestingly, thermal treatment of DIO containing blend films at a higher temperature of 80 degrees C results in significant reduction of FF. However, for without DIO (w/o DIO) devices, FF remains unchanged while decrease in Jsc is significant. The inferior performance of both (w/DIO and w/o DIO) the devices at higher temperatures similar to 80 degrees C emanates from an unfavorable distribution of the polymer-fullerene network, as shown by morphological and surface potential analyses. Specifically, in w/DIO devices, the decreased performance is possibly induced by the temperature driven, accelerated loss of DIO additive that produces the evolution of undesirable morphology thus deteriorating the performance.