The　bearing　alloy　of　Al-15%Pb-4%Si-1%Sn-1.5%Cu　(mass%)　was　prepared　by　mechanical　alloying,　subsequently　cold　compression　and　hot　extrusion.　The　experimental　results　show　that　the　Pb　and　the　Al　exist　in　the　alloy　in　the　form　of　nanocrystal　and　in　the　form　of　submicron　crystal　and　amorphous　body　respectively.　The　compressive　strength　and　hardness　of　this　alloy　were　decreased　with　the　increase　of　extrusion　temperature.　When　hot　extruding　at　400　degrees　C,　the　compressive　strength　(sigma(be))　and　0.2%　compressive　yield　stress　(sigma(0.2))　of　alloys　were　up　to　610　MPa　and　440　MPa　respectively,　and　hardness　was　exceeded　1　820　MPa,　which　were　higher　than　those　of　Al-Pb　series　bearing　alloys　synthesized　by　other　technique.