A new type aluminous cement containing magnesium aluminate (MA) spinel was prepared from mixtures of limestone, magnesian and bauxite at different ratios by sintering process. The phase composition, microstructure and mechanical properties of aluminous cements containing magnesium aluminate spinel were investigated in this paper. According to the XRD results, the magnesium aluminate spinel (MA),calcium monoaluminate (CA) and calcium bialuminate (CA2) are the primary phases of the obtained aluminous cements with a small quantity of calcium silicoaluminate (C2AS) and remained alumina (Al2O3). The results of SEM indicate that the MA mainly exist in the shape of octahedron with the length of about 2-5 μm, and it is agglomerated with the tabular or flaky-shaped CA among the obtained aluminous cements. In addition, the compressive strength of castables containing obtained aluminous cements increase obviously with the content of CA rising or the curing time increasing.