AlNiCo-8 alloys were synthesized by annealing a mixture of Al/Ni/Co/Cu/Fe/Ti oxides and CaH2 in an inert gas environment. In four parallel experiments, the annealing temperature was controlled as 500, 600, 700 and 800 degrees C, respectively. The magnetic properties were investigated by VSM. The results showed when the temperature was below 700 degrees C, a higher reduction temperature was beneficial to both crystallization and magnetic properties. However, when the temperature was above 700 degrees C, all oxides were reduced, and a further increased temperature did not bring much extra benefits on crystallization or magnetic properties.