A brief overview of the research progress of new cobalt-based alloys containing ordered L12 precipitates γ′-Co3(Al, W) was presented. The emphasis was on the microstructure, composition segregation and high temperature behavior of the γ-γ′ alloys with addition of different elements into ternary Co-Al-W system. The applications of new cobalt-based alloys were forecast and the research prospect required in future was pointed out.