Abstract: Al-4.9 Fe-4.9 Ni alloy powders have been synthesized by mechanical alloying. The rnechanically alloyed powders are consolidated by hot hydrostatic extrusion. The results show that extrusion tempereture. extrusion ratio and lubricant have great effects on the quality of extruded rods and their mechanical properties, The mixture of graphite and glass powders as lubricant can prevent the oxidization of cold compacted billet by cladding the billet with this lubricant before heating. This technique greatly simplifies the conventional densification process of powders