Abstract: The present invention provides a process of preparing an aluminum alloy, comprising the following steps: a first step of adding a ZL101 aluminum ingot and covering the melt after complete melting said alloy; a second step of adding one of modifiers Te and Sb and then performing heat preservation; and a third step of adding one or more of rare earth elements La, Ce, Y and Hf and then performing heat preservation. The ZL101 alloy melt after the treatment can be casted into an ingot or a part after refining, and a high-toughness ZL101 Al—Si alloy can be obtained after cooling. By adopting the combined effect of the rare earth elements and the long-acting modifiers, the present invention realizes controllable morphology of ?-Al and eutectic Si, and inhibits the formation of ?-Al dendrites and the generation of the long strip shape eutectic Si in a solidification process, thus the high-toughness ZL101 Al—Si alloy is prepared.