The effect of alloying elements on thermal stability of five different near eutectic Al-Ce based alloys, i.e., Al-12Ce, Al-12Ce-4Si, Al-12Ce-0.4Mg, Al-12Ce-4Si-0.4Mg and Al-12Ce-4Si-0.4Mg-0.25Sr alloys were investigated. The alloys were heat treated at three different temperatures, i.e., 200 °C, 300 °C and 400 °C to establish the thermal stability. Binary Al-12Ce alloy consisting of α-Al and showed higher resistance to coarsening at all temperatures. Addition of Si decreases the thermal stability above 200 °C while combined addition of Si and Mg increases the thermal stability up to 300 °C. Addition of Sr to quaternary alloy was not beneficial to enhance the thermal stability.