This paper studies the effect of the laser melting process (LMP) on the microstructure and hardness of a new modified AlCuMgMn alloy with zirconium (Zr) and Yttrium (Y) elements. Homogenized (480 °C/8 h) alloys were laser-surface-treated at room temperature and a heating platform with in situ heating conditions was used in order to control the formed microstructure by decreasing the solidification rate in the laser-melted zone (LMZ). Modifying the AlCuMgMn alloy with 0.4 wt% Zr and 0.6 wt% Y led to a decrease in grain size by 25% with a uniform grain size distribution in the as-cast state due to the formation of Al3(Y, Zr). The homogenization dissolved the nonequilibrium intermetallic phases into the (Al) matrix and spheroidized and fragmentized the equilibrium phase’s particles, which led to the solidification of the crack-free LM zone with a nonuniform grain structure. The microstructure in the LMZ was improved by using the in situ heating approach, which decreased the temperature gradient between the BM and the melt pool. Two different microstructures were observed: ultrafine grains at the boundaries of the melted pool due to the extremely high concentration of optimally sized Al3(Y, Zr) and fine equiaxed grains at the center of the LMZ. The combination of the presence of ZrY and applying a heating platform during the LMP increased the hardness of the LMZ by 1.14 times more than the hardness of the LMZ of the cast AlCuMgMn alloy.