Severe plastic deformation enables obtaining materials characterized by ultrafine grained (UFG) structure (nanostructure). High grain refinement increases the strength of materials according to Hall - Petch relation and in case of UFG materials the high ductility of these materials is also reported. Accumulative Roll Bonding (ARB) method, by the process of consecutive reduction equal to 50% of two sheets - pack in each rolling pass, satisfies the condition of severe plastic deformation and enables obtaining the theoretically unlimited high plastic deformation. In the paper the changes in the mechanical properties and rnicrostructure of Al - Fe 0.6% - Si 0.3% alloy processed in 1 pass up to 10 passes according to ARB procedure are reported. The optimal processing conditions are proposed to obtain maximum of strength accompanied by maximum plasticity.