A comparative analysis of the effect of high-pressure torsion (HPT) on the microstructure and tensile properties of the Al–10% La, Al–9% Ce, and Al–7% Ni model binary eutectic aluminum alloys is carried out. An HPT of 20-mm diameter specimens in as-cast state was carried out under constrained conditions, at room temperature, pressure P = 6 GPa, and number of turns N = 5. It is shown that the formation of nano- and submicrocrystalline structures and the refinement of eutectic particles in aluminum alloys simultaneously provide a multiple increase in strength while maintaining a high plasticity margin. This combination of properties has been achieved for the first time for severely deformed binary aluminum eutectics. The relationship between the type of eutectic particles, the structure formation process and the mechanical properties of the aluminum alloys has been established. The thermal stability of severely deformed aluminum alloys at heating up to 200 °C has been studied.