The crystallization of Al 8 5 Ce 5 Ni 8 Co 2 and Al 8 5 Y 5 Ni 8 Co 2 alloys was studied using differential scanning calorimetry (DSC) and in situ X-ray diffraction (XRD). Continuous heating DSC measurements revealed that Al 8 5 Ce 5 Ni 8 Co 2 and Al 8 5 Y 5 Ni 8 Co 2 alloys exhibit a glass transition followed by a super-cooled liquid region where crystallization occurs through a two- and three-stage process, respectively. The crystallization sequences were also observed in situ by means of XRD using a third generation synchrotron source. During the first crystallization stage, the primary precipitation of α-Al takes place only in the Al 8 5 Y 5 Ni 8 Co 2 alloy while in the Al 8 5 Ce 5 Ni 8 Co 2 alloy, a simultaneous precipitation of a metastable Al 1 1 Ce 3 and α-Al was observed. The final microstructure contained α-Al, Al 3 Y/Ce, Al 9 Co 2 , and Al 3 Ni phases. The crystallization was monitored both during heating of the amorphous alloy and during cooling of the liquid alloy in order to detect possible differences in the nature of the crystallization.