Mg₂Si particles are characterized by high melting point, high hardness, low density and small coefficient of thermal expansion, etc. Due to their good bonding performance with aluminum matrix as the reinforcement, Al-Mg₂Si alloy material possesses good mechanical properties. Al-Mg₂Si hypereutectic alloy material has excellent wear resistance while possessing low density characteristics, and it has become an optional material for piston and cylinder head production of automobile and motorcycle engines. In this paper, the development status of Al-Mg₂Si alloy material is introduced, and the preparation technology, metamorphism mechanism and the metamorphism of alloying elements of Al-Mg₂Si hypereutectic alloy material are mainly reviewed.