Abstract: The present invention provides high strength, heat resistant aluminum-based alloys having a composition represented by the general formula, Al.sub.a M.sub.b X.sub.cwherein:M is at least one metal element selected from the group consisting of V, Cr, Mn, Fe, Co, Ni, Cu, Zr, Ti, Mo, W, Ca, Li, Mg, and Si;X is at least one metal element selected from the group consisting of Y, La, Ce, Sm, Nd, Hf, Nb, Ta and Mm (misch metal); anda, b and c are atomic percentages falling within the following ranges:50.ltoreq.a.ltoreq.95, 0.5.ltoreq.b.ltoreq.35 and 0.5.ltoreq.c.ltoreq.25,the aluminum-based alloy being in an amorphous state, microcrystalline state or a composite state thereof. The aluminum-based alloys possess an advantageous combination of properties of high strength, heat resistance, superior ductility and good processability which make them suitable for various applications.