An efficient magnetocaloric refrigerant must have certain characteristics such as a sharp transition near the desired working temperature, a large cyclic magnetocaloric response, and the use of raw materials with reduced costs and low environmental consequences. In this sense, this work focuses on a series of rare-earth- and Co-free Mn0.5Fe0.5NiSi1-xAlx alloys (x = 0.0525, 0.060, 0.0685) with promising magnetocaloric properties. The alloys were synthesized using combined arc melting and induction melting techniques, as this synthesis route provides improved control on the sample composition and homogeneity. We investigated how the heat treatment temperature and Al content affect the magnetostructural and magnetocaloric properties of the alloys. On the one hand, it is found that annealing at 1173 K for 7 days leads to a sharp magnetostructural transformation with no traces of impurities for the alloy with x = 0.0525. Under these conditions, a large isothermal entropy change of –11.5 J kg−1 K−1 for 1 T is obtained near room temperature, significantly improving the value of the as-cast sample. On the other hand, following this optimal heat treatment, the influence of Al content is studied: upon increasing the Al concentration the magnetostructural transformation shifts to lower temperatures, ranging from 320 K for x = 0.0525 to 220 K for x = 0.0685 (measured upon heating).