The Fe–Al–Nb phase diagram including isothermal sections at 1000, 1150, and 1300 °C as well as the liquidus surface and corresponding reaction scheme was studied experimentally by a combination of scanning electron microscopy (SEM), electron probe microanalysis (EPMA), X-ray diffraction (XRD), and differential thermal analysis (DTA). No genuinely ternary intermetallic phase exists in the system, but the two Fe–Nb phases NbFe2 (C14-type Laves phase) and Fe7Nb6 (μ phase) have extended homogeneity ranges in the ternary system, where large amounts of Fe can be substituted by Al in both cases. The solubility of the third element was studied for all binary phases and the effect on the lattice parameters is discussed. From analysis of the as-cast microstructures and DTA experiments, the liquidus surface including all invariant reactions as well as the occurring solid state reactions were established. Three ternary eutectics, one eutectoid, and two peritectic reactions were found, and the list of invariant points is completed by seven U-type reactions.