The current investigation involves fabrication and characterization of Al MMCs reinforced with stainless steel fiber (SSF). Hot isotatic pressing (HIP), an effective metallurgical technology for producing well-consolidated products with strong interface bonding and reduced fabrication defects, was employed to fabricate the composites. A variety of processing conditions were investigated to determine their effect on microstructure and properties of the composites. To arrange the fiber orientation, a secondary treatment of rotary swaging was carried out on the specimens and the effect of rotary swaging was discussed. The experimental results reveal that processing conditions closely related to properties of the obtained composites. Severe interface reaction takes place at high processing temperature and thick interface reaction layer forms around reinforcing fibers, which reducing interface bonding strength, hence tensile properties of the composites.