The present work examines the effect of Mg contents and cooling rate on the morphology and mechanical properties of Al20Cu12Fe quasicrystalline alloy. The microstructure of the alloys was analyzed by scanning electron microscopy and the phase composition was identified by X-ray diffractometry. The melting characteristics were studied by differential thermal analysis under an Ar atmosphere. The mechanical features of the melt-spun and conventionally solidified alloys were tested by tensile-strength test and Vickers micro-hardness test. It was found that the final microstructure of the Al20Cu12Fe samples mainly depends on the cooling rate and Mg contents, which suggests that different cooling rates and Mg contents produce different microstructures and properties. The average grain sizes of the melt spun samples were about 100-300 nm at 35 m/s. The nanosize, dispersed, different shaped quasicrystal particles possessed a remarkable effect to the mechanical characteristics of the rapidly solidified ribbons. The microhardness values of the melt spun samples were approximately 18% higher than those of the conventionally counterparts. (C) 2016 Elsevier Inc. All rights reserved.