Power cable plays a very important role in power transmission and is an important part of the national economy. The demand for power cables continues to increase with the rapid development of the economy. ‘Replacing copper with aluminum’ is an effective means to save copper resources and can save costs. However, aluminum has the disadvantages of low melting point, softness and poor mechanical strength, which makes the reliability of aluminum core cable low and prone to failure. Therefore, it is necessary to improve the comprehensive performance of aluminum alloy cables to ensure their reliability and safety. In this paper, two different kinds of rare earth elements are added to Al-Fe-Cu alloy, and the results are as follows. After rolling and drawing, the dispersed phase of rare earth microalloyed Al-Fe-Cu alloy ingot still shows a streamline in the same direction as rolling and drawing under scanning electron microscope. The mixed addition of rare earth elements La and Ce can form a fine phase, and the rare earth elements in the dispersion phase will be redistributed. The rare earth element Sc will enter the Al-Fe-Cu ternary phase during solidification.The strength of rare earth element Al-Fe-Cu alloy wire with a total mass fraction of 0.1 is about 160 MPa, and the microhardness exceeds 50 HV. The conductivity of Al-Fe-Cu-La-Ce alloy wire is 59.21% IACS, and the conductivity of Al-Fe-Cu-Sc alloy wire is 60.22% IACS.