Abstract: Al-Fe alloys have attracted attention from researchers due to their good properties and have application prospects. Solidification characteristics of eutectic and hypereutectic Al-Fe alloys were presented, The effects of different conditions imposed on the melt and alloy elements added into the melt on the microstructure of Al-Fe alloys were summarized. The microstructure and performance of Al-Fe alloys fabricated via different technologies were introduced. The applications of Al-Fe alloys especially in automotive and aerospace industries were described. Finally, the core problems——refining the iron-rich phase and promoting the iron content were discussed for preparing Al-Fe alloys with high performance.It pointed out that the research focus could be the way of the introduction of alloying elements and the precise control of metallic liquid environment in the future.