Abstract: A light metal composite material reinforced by alumina-silica fibers and a method for producing same. The composite material can have high mechanical qualities such as high workability and high wear resistance as well as high thermal qualities such as high fatigue resistance and high thermal conductivity and can also have high mating performance not to cause much wear of the mating member when the assemblage of alumina-silica fibers incorporated in the composite material as reinforcing members includes not more than 17 wt. % non-fibered particles, particularly not more than 7 wt. % of non-fibered particles of not smaller than 150 microns diameter, and has a virtual density of 0.08-0.3 g/cm.sup.3. The efficiency of production of the composite material is improved by binding the alumina-silica fibers provisionally with one another by an inorganic binder to have a compression strength no lower than 0.2 kg/cm.sup.2.