High-entropy alloys (HEA) have much higher mixing entropy than those of traditional alloys when compared at the liquid state or random solid solution state. HEAs have many attractive features such as: 1. tend to form simple FCC and/or BCC solid solutions, 2. easily form nano-size precipitates and even amorphous phases, 3. exhibit good thermal stability, 4. possess high hardness, and 5. display excellent corrosion resistance and thus have many potential applications. In view of the demand of high-performance low-density materials for transportation vehicles due to energy shortage and green house issues, this study has developed a new light high-entropy alloy (HEA) Al20Be20Fe10Si15Ti35 to have unique mechanical properties and oxidation resistance. This alloy has a simple as-cast microstructure composed of one major and two minor phases with a density 3.91 g/cm3 and a hardness HV 911. In addition, it has excellent oxidation resistance at 700°C and 900°C, which is superior over that of 304 stainless steels. Its combination of properties is unique as compared with traditional high-strength light alloys and bulk metallic glasses.