As in materials science in general, achievement of both high strength and high ductility constitutes a tough challenge in high-entropy alloys too. Problems with poor castability and compositional segregation of HEAs create additional limitations for industrial applications. In order to shed some light on the possibilities of adaptation of the AlCoCrFeNi HEA into large-scale industrial production, primarily, the Thermo-Calc simulations were performed on the chosen HEA system. Further, vacuum induction melting and ingot casting were used to obtain the AlCoCrFeNi HEA – eutectic alloy with a microstructure composed of alternating soft FCC and hard BCC phases. Finally, a comprehensive characterization was carried out on the as-cast- and heat-treated conditions of the AlCoCrFeNi HEA, including the XRF analysis of the longitudinal section, metallographic characterization, thermal analysis, dilatometry, hardness tests, tensile tests, impact toughness tests, tribological tests, as well as creep tests. Mutual correlation of microstructure and properties has been also attempted.