Preparation and characterization of the dimeric Lewis superacid [Al(OTeF5)3]2 and various solvent adducts is presented. The latter range from thermally stable adducts to highly reactive, weakly bound species. DFT calculations on the ligand affinity of these Lewis acids were performed in order to rank their remaining Lewis acidity. An experimental proof of the Lewis acidity is provided by the reaction of solvent‐adducts of Al(OTeF5)3 with [PPh4][SbF6] and OPEt3, respectively. Furthermore, their reactivity towards chloride and pentafluoroorthotellurate salts as well as (CH3)3SiCl and (CH3)3SiF is shown. This includes the formation of the dianion [Al(OTeF5)5]2−.