Disclosed herein is an aluminum alloy composition consisting essentially of, on the basis of total weight of the composition, 13 to 28 wt % of silicon, 1.5 to 5 wt % of a metal element selected from iron and manganese, 3 to 10 wt % of zinc, 0.5 to 1 wt % of magnesium, and aluminum as balance. Also disclosed herein is an aluminum alloy product made from said aluminum alloy composition and exhibiting improved mechanical properties at high temperatures, including excellent wear resistance, hardness and thermal stability.