Al–12.6Si was annealed at both 500 and 560 °C for different lengths of time in this study. Additionally, the effects of annealing treatment on the spheroidization of eutectic Si and the mechanical properties of the Al–Si alloy have been investigated. The morphology of these particles was described using surface shape factor (φ), and it was found that the optimal annealing time of Al–12.6Si at 500 and 560 °C is seven hours and five hours, respectively. The average size of the Si particles in the Al–Si alloy annealed at 500 °C is less than that of the particles at 560 °C. The roundness of the Si particles within the Al–Si alloy annealed at 500 °C is slightly better than that at 560 °C. The elongation of the alloy apparently increases, while the tensile strength of the Al–Si alloy decreases. The tensile strength and elongation of the eutectic Al–Si alloy annealed at 500 °C is higher than that at 560 °C.