FeCrAl alloy is one of potential candidates for accident‐tolerant‐fuel (ATF)‐cladding materials due to its excellent oxidation and corrosion resistance at accident temperature, combining good mechanical properties at service temperature. Alloying strategy is an important way for improving comprehensive properties of FeCrAl alloy through the precipitation of fine Laves phase. Zr alloying can stabilize the Laves phase due to its lower diffusion coefficient and solubility in body‐centered‐cubic ferrite matrix. Herein, it is found that Zr addition changes the dynamic precipitation features of Laves phase in FeCrAl alloy during high‐temperature deformation, from only one type of Fe2M (M = Nb, Mo, Ta) Laves phase to Fe2Zr combining Fe2M‐type Laves phase. The Fe2Zr‐type Laves phase precipitates dynamically first, and the interface precipitates between which with ferrite matrix creates more nucleation sites for subsequent precipitation of Fe2M Laves phase. The results can be possibly applied for alloy design and microstructure tailoring in series of FeCrAl alloys used for ATF cladding in the near future.