As a conductive material for power transmission, Al-Cu alloy is widely used in power engineering, microelectronics and other fields. In view of the contradiction between the conductivity and strength of aluminum alloy, Sn and Er elements were selected to micro-alloy Al-Cu alloy. Al-Cu, Al-Cu-Sn and Al-Cu-Sn-Er alloys were prepared by near-liquidus casting. After solution treatment, it was subjected to three-stage alternating process of rolling and aging. The effects of micro-alloying and alternating process on the microstructure and properties of Al-Cu alloy were studied. The results show that the precipitated phase Al2Cu of Al-1.12 Cu alloy is rod-shaped after the first-stage process, and the average size is about 278±87 nm. The precipitated phases in the Al-Cu-Sn alloy are Al2Cu (average size of about 206±79 nm) and nano-sized β-Sn particles. The fine β-Sn nanoparticles in the Al-Cu-Sn-Er alloy heterogeneously nucleated on Al8Cu4Er (average size of about 167±45 nm), making Al8Cu4Er grow into particles. After secondary processing, stacking faults (SFs) appeared in the substructures of the three alloys, and the precipitated phases were further refined. The size of most precipitated phases in Al-1.13Cu-0.12Sn and Al-1.01Cu-0.15Sn-0.22Er alloys is reduced to nanometer level. After the three-stage process, some of the Al2Cu precipitates in the Al-Cu alloy are also refined to the nanometer level, and the precipitates in the other two alloys are all refined to the nanometer level. Nanotwins also appear in Al-1.01Cu-0.15Sn-0.22Er alloy. The tensile strength of Al-1.13Cu-0.12Sn and Al-1.01Cu-0.15Sn-0.22Er alloys after three-stage alternating process is 303 MPa and 327 MPa, respectively. The elongations are 21.6 % and 23.3 %, respectively. The relative conductivity was 61.7 %IACS and 59.8 %IACS, respectively. The synergistic effect of microalloying of Sn and Er elements and three-stage alternating processing technology not only reduces the size of precipitates and twins in the alloy to the nanometer level, but also adjusts the distribution of dislocation tangles and stacking faults (SFs), improves the substructure configuration, and improves the mechanical and electrical properties of conductive aluminum alloys.