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Structural properties and magnetic behavior in pseudobinary alloys CoFe1−x Alx are studied. The B2-phase exists stably over wide ranges of composition and temperature and the Heusler-phase appears around the stoichiometric composition (0.4< x< 0.6 ) below about 973K. The mean magnetic moment in the B2-phase region decreases nearly linearly with increase in x in x > 0.2. Further, it decreases with increase in quenching temperature in x < 0.4, while it remains almost constant in x > 0.4. The mean magnetic moment of Heusler alloy Co2FeAl (x = 0.5) has the value of 1.30μB/atom, nearly the same as in the B2-phase, and shows no remarkable quenching temperature dependence.