The forming of large and complex forgings typically relies on multistep cumulative deformation processes that optimize microstructures and improve mechanical properties. However, the mechanisms of the recrystallization that occurs during these processes are not fully understood. This study examines the effects of deformation temperature, strain rate, inter-pass holding time, and deformation distribution on the dynamic recrystallization (DRX), static recrystallization (SRX), and metadynamic recrystallization (MDRX) behaviors of F316 austenitic stainless steel. With a combination of thermal simulation experiments and EBSD techniques, the evolution of the geometrically necessary dislocation (GND) density, grain boundary characteristics, and grain orientation under various deformation conditions was comprehensively analyzed. Increasing the deformation temperature and decreasing the strain rate facilitate DRX occurrence by reducing the critical energy. Prolonged holding time results in excessive SRX and MDRX, which depletes the stored deformation energy and hinders subsequent DRX. When the initial deformation amount is large, sufficient MDRX tends to suppress DRX activity. When the initial deformation amount is small, SRX contributes additional nucleation sites. Increasing the final pass deformation amount tends to promote DRX occurrence by preventing MDRX. Further analysis indicates that although SRX consumes part of the deformation energy, the effect of its grain refinement provides a greater number of nucleation sites for subsequent DRX. MDRX is a process of grain growth that proceeds directly from DRX grains and that consumes deformation energy, thereby suppressing subsequent DRX and potentially resulting in a mixed grain structure that would adversely affect the material’s final microstructure and properties. An accumulated deformation energy model for F316 stainless steel is established to evaluate the effects of various recrystallization processes. This model calculates the energy consumption of SRX and MDRX during hot deformation, determines the critical energy required for DRX in subsequent passes, and quantifies the specific contributions to DRX from SRX and MDRX. The findings provide theoretical support for the microstructural control and performance optimization of large forgings, thereby offering practical guidance for optimizing forging processes, especially under high-temperature and high-strain-rate conditions.