The present paper describes the Lead dispersion in hypoeutectic Aluminium-Silicon alloys and their microstructural characteristics. The homogeneous dispersion of Lead (Pb) in Aluminium-Silicon alloys (Al-6Si+Pb (=0, 10, 15, 20, 25)) were fabricated by using of spray forming technique (also known as spray casting or spray deposition) in the form of near-net shape disc. The microstructural characterization has been done for different location of spray formed disc by using optical microscopy (OM), Scanning electron microscopy (SEM) and X-Ray Diffraction (XRD) respectively. The results of the optical image were exhibited the equiaxed and globular grain morphology of primary Aluminium with the homogeneous dispersion of extremely fine and malleable particles of Lead and spherical particles of silicon in α–Aluminium matrix. The dispersed Lead has seen clearly in the SEM images of spray formed Aluminium-Silicon alloys and result of XRD pattern confirmed the phases of Aluminium-Silicon and Lead. The grain size of Aluminium has been analyzed by intercept line method. The lattice parameter and lattice strain have been calculated with the help of the XRD pattern to determine the effect of Lead dispersion on Al-Si alloy.