Molecular dynamics (MD) simulations were performed to examine the temperature-dependent elastic properties and high-temperature deformation behavior of a Cu64.5Zr35.5 amorphous alloy. From the simulations we find that the elastic constants of the amorphous solid and supercooled liquid exhibit an approximately linear temperature dependence. The predicted temperature dependence of the Young’s modulus for the amorphous solid obtained from the MD simulations is in good agreement with experimental measurements using dynamic mechanical analysis. Furthermore, the high-temperature plastic deformation behavior determined by MD simulations is qualitatively in good agreement with results from plastic deformation experiments performed on 1 mm diameter Cu64.5Zr35.5 metallic glass rods at 698 K. Notably, the MD simulations reveal that the flow softening regime of the stress-strain curve corresponds to an increase in the free volume in the atomic structure. Moreover, the simulations indicate that the atomic mobility significantly increases within the same regime.