The microstructure peculiarities of the new Al–Hf–Sc master alloys were studied using the methods of optical and scanning electronic (SEM) microscopy in combination with EDX analysis. The alloys studied included the meta-stable intermetallic compounds (aluminides) having cubic lattices identical to those in the matrix of aluminum alloys. Binary and ternary alloys were melted in graphite crucibles at a carbon-resistance furnace under an argon atmosphere. Al–0,96at.%Hf (5,98 wt.% Hf) and Al–0,59at.%Hf (3,77 wt.% Hf) alloys were prepared by superheating above the melting point up to about 200 and 400 degrees respectively. Melts were poured into a bronze casting form where crystallization rate was ~103 degrees/sec. Besides stable aluminides with tetragonal lattices, Al3Hf metastable aluminides with cubic lattices were formed only in the melt superheated by 400 degrees above the melting point. The degree of superheat for ternary alloys where Aln(Hf1–xScx) meta-stable aluminides were formed was 240, 270 and 370 degrees. The hafnium fraction in the Aln(Hf1–xScx) aluminides changed from 0,46 to 0,71 depending on the Hf : Sc ratio in the alloy. The master alloys produced (at.%): Al–0,26Hf–0,29Sc and Al–0,11Hf–0,25Sc (wt.%: Al–1,70Hf–0,47Sc and Al–0,75Hf–0,42Sc) demonstrate fine grain structures with meta-stable aluminides of Aln(Hf0,58Sc0,42) and Aln(Hf0,46Sc0,54) compositions respectively. Aluminide sizes are less than 12 and 7 μm. Their crystal lattice mismatch with the aluminum alloy matrix lattice is less than for Al3Sc. This fact allows us to expect high modifying effects of the experimental Al–Hf–Sc master alloys in their further application. In addition, replacement of expensive scandium with hafnium in the master alloys can reduce scandium consumption considerably.