This study aims to develop a new dissolvable material based on aluminum alloys (AA) with strong mechanical properties and good dissolvability for downhole applications. Taguchi’s method will be utilized to change the chemistry of AA 7075 by adding various elements (such as Cu, Ga, Ag, Sn, In, Zn, Cr, and Zr). First, the Scheil-Gulliver model will be used to simulate the solidification process to target the chemistries of candidate alloys. AA 7075 and the chosen metal elements will then be melted using an induction furnace. The as-prepared AA ingots will be characterized through X-ray diffraction, scanning electron microscopy, energy-dispersive X-ray spectroscopy, and Vickers hardness testing. The relationship between alloy chemistry, phase fractions and the designed AAs’ microstructure will be determined. It is believed that the design approach and characterization methods employed in the work will facilitate the development of the most promising dissolvable AA for hydraulic fracturing applications.