Aluminum-based metallic matrix composites reinforced by carbon nanofibers (CNFs) are important precursors for development of new light and ultralight materials with enhanced properties and high specific characteristics. In the present work, powder metallurgy technique was applied for production of composites based on reinforcement of aluminum matrices by CNFs of different concentrations (0~2.5 wt%). CNFs were produced by chemical vapor deposition (CVD) and mechanical activation. We determined that in situ synthesis of carbon nanostructures with subsequent mechanic activation provides satisfactory distribution of nanofibers and homogeneous composite microstructure. Introduction of 1 vol% of flux (0.25 NaCl + 0.25 KCl + 0.5 CaF ₂ ) during mechanic activation helps to reduce the strength of the contacts between the particles. Additionally, better reinforcement of alumina particles and strengthening the bond between CNFs and aluminum are observed due to alumina film removal. Introduction of pure aluminum into mechanically alloyed powder provides the possibility to control composite durability, plasticity and thermal conductivity.