A new strategy was applied to develop nano-quasicrystalline phase in well-known AlNiCo ternary system. This approach was based on electroless Ni-P plating of the starting powders and subsequent ball milling in a protective atmosphere without additional annealing or sintering processes. Microstructural evolution and phase transformation of both raw and coated particles were analyzed by scanning electron microscope (SEM) and X-ray diffraction (XRD), respectively. After 360 min of mechanical alloying, the peaks demonstrating the formation of nano-quasicrystalline phase appeared in XRD pattern of the coated powders, while those in mechanically alloyed raw powders remained mostly unchanged. The formation of nano-quasicrystalline phase in the vicinity of the primary elements was also confirmed by the corresponding selected area diffraction patterns, and images generated by transmission electron microscope (TEM).