Nanocrystalline Al-based alloys containing silicon (Si), rare earth metal (RE) and late transition metal (Fe), are interesting for their excellent mechanical properties, exceeding those of the commercial crystalline Al-based alloys. Rapid solidification and mechanical alloying are well known methods to obtain alloys with nanometer grain size. The nanometer grains provide an increase of mechanical properties of the alloys. However, the possible industrial aplication of these alloys is limited by the reduced dimensions, obtained by the traditional rapid solidification techniques. That is why, many attempts to produce nanocrystalline aluminium alloys in bulk form have been carried out. The aim of this work was to manufacture high strength bulk nanocrystalline alloys from Al-Si-Fe-RE system. Replacement of RE by Mischmetal (Mm) reduces the cost of investigated materials, as Mm is an order of magnitude cheaper than pure rare earth elements. Bulk nanostructured alloys were produced by ball milling of nanocrystalline ribbons followed by high pressure hot compaction.