Hypereutectic aluminum-silicon alloy powder of Al-20Si-0.35RE was synthesized by using the inert gas atomization technique. This powder was ball milled for different time and hot extruded subsequently. The microstructure and electrical conductivity of alloy were studied by powder particle size analyzer, scanning electron microscope, X-ray diffraction and bridge resistance instrument respectively. It is indicated that the powder got by spray method have a better homogeneous distribution. The proper RE amount and milling time improved the conductivity due to either microstructural refining or decreasing of Si solid solubility in Al matrix. The conductivity changed with ball milling time, while unique high conductivity (75%IACS) could be achieved after milling for 12 h and hot-extruded 3 times. This kind of high conductivity aluminum-silicon alloy will be a potential conductor material which could be extensively used in the electrical engineering field.