The Thermal-Derivative Analysis, or Computer-Aided Cooling Curve Analysis, is a commonly used method for determining the solidification parameters of metals and alloys. Knowledge of the enthalpy, kinetics and broad characteristics of the transformations taking place during the cooling of an alloy can be obtained with the proper configuration of analytical equipment and arrangement of test techniques. This work practically analyses the changes occurring in the Mg–4.5Li–1.5Al alloy as a result of the modification of the structure by the addition of TiB and Sr. The results indicate that adding grain refinements significantly affects the microstructure and thermal parameters of Mg–4.5Li–1.5Al alloy. The nucleation temperature and solidus temperature decrease with the addition of chemical reagents. Compressive strength improved due to the refinement of grain size. The results confirmed that thermal-derivative analysis is suitable for analysing changes in cast magnesium alloys.