Al-3Ti-0.5B master alloy was prepared by reaction of Ti sponge, KBF4 with aluminum melt. The morphology and distribution of the second phases effected by the feeding methods have been discussed. And the grain refining performance and the resistance to fading of the master alloy were investigated. The result shows that the Al-3Ti-0.5B master alloy which was prepared by adding mixture of Ti sponge and KBF4 power into molten aluminum contains a large number of granular TiB2 phase and blocky TiAl3 phase. The average grain size of commercial purity aluminum was refined from 920μm to 120μm by adding 0.5wt.% of the master alloy. And the refining performance of the master alloy shows no obviously fading phenomenon when the holding time up to 30min.