The invention relates to the field of metallurgy of aluminum-based materials and can be used to produce articles (including welded structures) operated in corrosive environments (humid atmosphere, fresh or sea water, and other corrosive environments) and under high-load conditions, including at elevated and cryogenic temperatures. A new, inexpensive, high-strength aluminum alloy is provided with high physical and mechanical properties, performance, and corrosion resistance, in particular, high mechanical properties after annealing (tensile strength of at least 400 MPa, yield point of at least 300 MPa, and relative elongation of at least 15%) and high performance in deformation processing; wherein high performance in deformation processing is provided due to the presence of eutectic Fe-containing alloy phases, accompanied by increased mechanical properties due to the formation of compact particles of eutectic phases and secondary separation of the Zr-containing phase with the L1
2 crystal lattice. The aluminum alloy contains zirconium, iron, manganese, chromium, scandium, and optionally magnesium. It also additionally comprises at least one eutectics forming element selected from the group consisting of silicon, cerium and calcium, wherein the structure of the alloy is an aluminum matrix containing silicon and optionally magnesium, secondary separations of Al
3(Zr,X) phases with the L1
2 lattice and a size of not more than 20 nm, wherein X is Ti and/or Sc, secondary separations of Al
6Mn and Al
7Cr, and eutectic phases containing iron and at least one element from the group consisting of calcium and cerium with an average particle size of not more than 1 μm, with the following phase ratio, wt. %:
- Secondary separations of Al3(Zr,Sc): 0.5-1.0;
- Secondary separations of Al6Mn and Al7Cr: 2.0-3.0;
- Eutectic particles containing iron and at least one element from the group consisting of calcium and silicon: 0.5-6.0;
- Aluminum matrix: the remainder.