The significance of light alloy in realizing the national strategy of energy saving and emission reduction and promoting the upgrading of the manufacturing industry is self-evident. Mg/Al composite laminates combine the lightweight of magnesium alloy and the plasticity and corrosion resistance of aluminum alloy. Traditional accumulative roll bonding technology relies on the advantage of introducing large deformation. Although high strength is obtained, it is often accompanied by a large loss of ductility, and there is a problem that it is difficult to balance strength and ductility. To solve this problem and optimize the process conditions, a new hard-plate accumulative roll bonding process is proposed in this paper, which is used to prepare high-performance Mg/Al composite plates, and the influence of forming temperature on the microstructure and mechanical properties of Mg matrix is studied. The results show that when the forming temperature is 350 °C, the properties of composite laminates are the best, the tensile strength can reach 243 MPa, the elongation is 14.7 %, and there are a lot of tearing edges and dimples on the fracture surface. At the same time, complete recrystallization can be realized at this temperature, and the opening of non-base slip can coordinate deformation stress, promote the dislocation slip, and reduce the dislocation density, SEM images show that there are no defects such as delamination at the interface, and a firm metallurgical bonding is achieved. It provides a new approach to the forming and manufacturing of high-quality lightweight heterogeneous composite laminates.