High heat-resistant Al-Fe-V-Si and Al-Fe-V-Si-X rapidly solidified powder metallurgy (RS P/M) alloys have been developed under well-controlled high purity argon gas atmosphere. The (at. %) RS P/M alloy exhibited high elevated-temperature strength exceeding 300 MPa and good ductility with elongation of 6 % at 573 K. Reduction of partical pressure in P/M processing atmosphere led to improvement in mechanical properties of the powder-consolidated alloys under elevated-temperature service conditions. Ti addition to the Al-Fe-V-Si conduced to enhancement of the strength at room temperature. The tensile yeild strength and ultimate strenght were 545 MPa and 722 MPa, respectively.