In this work, the effect of different alloying elements including Be, Li, Si, Cu, Mg, Cr and Fe on the Young’s modulus of Al has been briefly described. Among the available elements, desirable amount of Si, Mg, Cu and Ti elements has been selected to develop a high modulus Al alloy. The microstructural evaluation and mechanical properties of the developed alloy as well as a conventional Al-Si alloy were examined by X-ray diffractometer (XRD), scanning and high-resolution transmission electron microscopes (SEM and HRTEM), ultrasonic pulse technique and tensile test. The results revealed that the developed alloy has a uniform microstructure. Formation of high modulus phases, which are responsible for the increase of Young’s modulus, in the microstructure was revealed with XRD and EDS. In comparison with the conventional aluminium alloys that have Young’s modulus at a level of 70 GPa, over 88 GPa Young’s modulus (i.e. 26% increase) was achieved.