The microstructure and texture evolutions during extrusion and rolling processes of the 2195 Al−Li alloy were investigated. The EBSD technique was employed to reveal the microscopic evolution mechanisms of different texture components. The findings reveal that the texture evolution is governed by two mechanisms: an overall orientation transformation induced by plastic strain and a localized transformation occurring at the shearing bands within grains. During the rolling process, the extrusion texture components of Ex  and Cu  evolve into S , and the Bs  rotates into the orientations near R-Bs and S. With increasing deformation, the S, Bs, and R-Bs orientations further rotate around the TD axis and disperse into new orientations, forming recrystallized grains. The shearing bands with different initial orientations exhibit similar orientation evolution patterns, all of which evolve from the initial orientation to a series of recrystallization orientations.