Al–8Fe–4Ce alloy is currently manufactured by consolidating the atomized powders. With the aim to reduce the cost, spray forming process was applied in manufacturing with misch metal as raw materials. Spray forming (SF) as well as casting were employed to prepare Al–8Fe–4RE alloy, followed by hot‐press to compact the samples. The mechanical properties of SFed and cast Al–8Fe–4RE alloys are characterized at a temperature of 350 °C. The results show that the Al3Fe phases contained in SF alloy is comparatively refined, forming needle‐shaped phases embedded in the Al matrix, and the SF alloy also showed lower degree of preferred orientation in (111) plane. Although both factors might explain the superior performance of the SF sample, the fracture appearance after tensile test at 350 °C shows that the contribution from crystallographic feature might be predominant. Spray forming is proved to be a very promising technique for manufacture of Al–Fe–Ce alloys of high strength at an elevated temperature.