In this paper, the precipitation of second phase particles, hardness and stress corrosion behavior of 7N01 alloys during 120 °C aging are systematically investigated by using micro-hardness tester, transmission electron microscope (TEM), selected area election diffraction patterns (SAEDP) and slow strain rate test (SSRT). The experimental results show that when 7N01 aluminum alloy was aged at 120 °C, the GPII zones formed at first, then gradually dissolved, transformed into η′ phase, and eventually evolved into η′ phase. Accordingly, three peak values appear on the hardness curve. The electrochemical measurements and SSRT results show that the high potential differences and the precipitates distributed continuously in the grain boundary can obviously decrease the stress corrosion cracking of the alloy after aging for 94 h. The narrow PFZ and the precipitates distributed discontinuously in the grain boundary effectively increase the resistance of stress corrosion cracking (SCC) of the alloy after aging for 46 h and 122 h.