Abstract: Aluminum alloy has become the most widely used lightweight structural material in the industrial field. Its high specific strength, good corrosion resistance, and strong adaptability to processing and forming determine its use in precision manufacturing of complex components. The customized forming ability, precision forming ability, and production cycle compression ability of selective laser melting technology promote the accelerated application of aluminum alloy components in high-end fields. Rare earth elements are relatively active and have modifying, purifying, and strengthening effects on aluminum alloys. This article reviews the current research progress on selective laser melting of rare earth aluminum alloys, summarizes the mechanism of rare earth elements on aluminum alloys, as well as the microstructure evolution and mechanical properties changes of aluminum alloys, in order to ensure that the improved aluminum alloy materials are more suitable for additive manufacturing and meet more stringent production and application requirements.