Among various intermetallics, particularly aluminides such as NiAl, TiAl and Nb₃Al have received considerable attention as candidates for high temperature materials because of their good properties as high melting temperature, high elevated temperature strength, lower density, superior oxidation resistance. However, poor room temperature ductility and insufficient fabricability at high temperatures, which are inherent in intermetallics, place hurdles on the road to the practical use. Powder metallurgy method is expected to overcome these drawbacks through the refinement of microstructures as well as the near net shaping. Further, by applying mechanical alloying method, it becomes easier to produce intermetallics base composites with both fine and homogeneous structures. This paper provides an outline of my recent investigations on the microstructural and mechanical properties of both aluminides and their composites produced by powder metallurgy method.