AZ31 magnesium alloy profiles were prepared by continuous rheo-extrusion process, and effects of solution and aging treatments on the microstructures and mechanical properties was investigated by OLYMPUS optical microscope, scanning electron microscope, energy dispersive spectroscopy device and tensile machine. The results reveal that saturated solid solution was formed in the profile at a solution temperature of 415 °C and 16 hours. During aging treatment of saturated solid solution, β-Mg17Al12 phase nucleates firstly at grain boundaries and takes on globular growth, which is mainly due to the lower interfacial energy in coherent or semi-coherent interface between β-Mg17Al12 phase and matrix phase. Lower interfacial energy is favorable to the nucleation and growth of β-Mg17Al12 phase at grain boundary. With the increase of aging time or the rise of aging temperature, β-Mg17Al12 phase precipitates out gradually from grain interior and starts to grow in globular shape. After β-Mg17Al12 phase grows to a certain extent, it grows in lamellar shape along the orientation of lower mismatch between β-Mg17Al12 phase and matrix phase. After solution at 415°C and 16h and aging at 180°C and 8h, the ultimate tensile strength and elongation to failure of the profile are 305MPa and 13%, respectively.