Fe40Al60 alloy was prepared by laster ignition induced self-propagating high-temperature synthesis. By means of XRD, microscopic test, hardness test to analyze the microstructure and macroscopic properities of the sintered alloy about different areas. According to finite element method, the temperature field of Fe40Al60 was simulated by finite element analysis software ANSYS. Contour maps of temperature field and path map were obtained after sintering 10s. The experiment result shows that: The main phases of the alloy upper surface was FeAl, Al2O3. the middle layer of the alloy were Fe3Al, FeAl, Al2O3. the buttom layer of the alloy was Fe3Al, Al2O3 and Fe . The microstructure of the upper surface was strip, the median surface was celluar, the buttom surface was fine needle, hardness highest to 1005 HV of the middle layer, 901 HV to the surface layer, 965HV to the buttom layer.The simulation result shows that: At 10s, the temperature of the direct laster sintering surface up to 1150K, the buttom surface up to 820.979K and the temperature of median surface was 894.033K.The results show that the experimental results are consistent with the simulation results.