Microstructure and mechanical properties of bulk nanocrystalline Fe3Al based alloy with 10 wt. % Mn prepared by aluminothermic reaction after annealing at 600, 800 and 1000°C for 8 h were investigated in order to gain insights in effects of annealing. Crystal structure of the alloy did not change and a fiber phase with enriched Mn appeared in the annealed alloy. Grain size of the alloy changed a little after annealing at 600°C but increased a lot after annealing at 800 and 1000°C. The annealed alloy had plasticity in compression at room temperature and the alloy annealed at 1000°C had yield strength of 782 MPa. The alloy without annealing has creep properties in compression at 800 and 1000°C and can be easily hot rolled to strip and sheet.