Static recrystallization plays a key role in the fabrication of thin Mg wires as well as the mechanical properties of the final wires. The effect of annealing parameters on the evolution of the microstructures, textures and mechanical properties of cold-drawn pure Mg wire was studied by means of optical microscopy (OM), electron backscatter diffraction (EBSD), a tensile test and a hardness test. This study shows that the mechanical properties of as-annealed pure thin Mg wire is affected not only by the average grain size, but also the uniformity of the recrystallization grains, including the uniformity of grain size and crystal orientation distribution (more random texture component). With increasing annealing temperature and time, the uniformity of recrystallization grain size first improved and then declined after obvious grain growth. At the same time, the randomness of the basal texture component declined with the development of recrystallization. Annealing at 300 °C for 30 min caused the most uniform grain size and orientation distribution in the microstructures, thus contributing to the best plasticity among all experimental wires. It is reasonable to conclude that more uniform and regular recrystallized grains and a more randomly distributed crystal orientation would be benefit for the mechanical properties of Mg wires.