In this study, an Al-0.7wt%Fe-0.2wt%Mg-0.2wt%Cu-0.02wt%B alloy was designed to fabricate an aluminum alloy for electrical wire having both high strength and high conductivity. The designed Al alloy was processed by casting, extrusion and drawing processes. Especially, the drawing process was done by severe deformation of a rod with an initial diameter of 12 mm into a wire of 2 mm diameter; process was equivalent to an effective strain of 3.58, and the total reduction in area was 97 %. The drawn Al alloy wire was then annealed at various temperatures of 200 to 400 °C for 30 minutes. The mechanical properties, microstructural changes and electrical properties of the annealed specimens were investigated. As the annealing temperature increased, the tensile strength decreased and the elongation increased. Recovery or/and recrystallization occurred as annealing temperature increased, and complete recrystallization occurred at annealing temperatures over 300 °C. Electric conductivity increased with increasing temperature up to 250 °C, but no significant change was observed above 300 °C. It is concluded that, from the viewpoint of the mechanical and electrical properties, the specimen annealed at 350 °C is the most suitable for the wire drawn Al alloy electrical wire.