The demands of rapidly evolving technology call for continuous research and development efforts aimed at invention of novel casting aluminum alloys. It often happens that the standard casting alloys, including high-quality materials, do not satisfy the rigorous requirements for applications in different areas of technology. This results in the efforts to use much more expensive manufacturing techniques such as rapid quenching from the melt (rapid solidification/power metallurgy, RS/PM), mechanical alloying, and seeding molten metal with ultra-disperse particles, etc. Very high costs of such materials limit substantially their widespread application. Consequently, the development of new casting alloys that could be cast using existing traditional equipment and yield high-quality shaped castings with higher level of properties than standard alloys, represents a challenging and actual problem. First of all, there is the need to increase alloy strength at room and elevated temperatures in conjunction with achieving higher corrosion resistance and good castability (including advanced techniques like die casting, casting into stiff molds, etc.). Recently there were several successful efforts going in this direction, and some of the developed new alloys find a limited industrial application. The authors believe that a very significant progress could be achieved in this field if advanced systems of alloying are chosen, and this issue is discussed in detail in this chapter.