Melt-spun Al 75−X Si 25 Ni X (X02, 4, 7, and 10 mol%) alloys were investigated as anode materials for lithium-ion batteries. The Al 68 Si 25 Ni 7 anode showed a maximum capacity of 840 mA h g −1 at the fifth cycle and maintained 661 mA h g −1 after 40 cycles with a high coulumbic efficiency of 93%. The specific capacity increased as the decrease in the Ni content during the first 20 cycles, but the cycle performance became poorer. For the Al 65 Si 25 Ni 10 anode, the specific capacity increased slowly as the cycles increased and reached 370 mA h g −1 after 40 cycles. When the Al 68 Si 25 Ni 7 ribbons were annealed, their initial capacity became higher, but much poorer cycle performance and low coulumbic efficiency occurred. Except Al 65 Si 25 Ni 10, the AlLi compound could be detected in the anodes after lithiation. However, the capacity faded rapidly due to the formation of excessive AlLi in the Al 73 Si 25 Ni 2 and annealed Al 68 Si 25 Ni 7 anodes. The experiments revealed that the as-quenched ribbons consisted of the nanoscaled α-Al, metallic glass and α-Si, and their fractions were dependent on the Ni content. The α-Al was a supersaturated solid solution of Si and Ni in fcc-Al. For the as-quenched Al 68 Si 25 Ni 7 ribbons, the α-Al grains were embedded in the amorphous matrix. It can be understood that metallic glass can store Li, and the supersaturated solid solution can store Li even more easily compared with other known Al-Si-based alloys. A conclusion can be drawn that the microstructure that the nanoscaled α-Al embedded in the metallic glass matrix is beneficial to improve the structure stability, restrain serious structural evolution, and limit the volume variation and pulverization during electrochemical cycles.