There is provided a Ni-based intermetallic alloy having a dual multi-phase microstructure containing a primary precipitate L12 phase and an (L12+D022) eutectoid microstructure. Thus, the Ni-based intermetallic alloy contains Ni, Al, and V as basic elements, and the contents of Ni, Al, and V are controlled to form the dual multi-phase microstructure. The Ni-based intermetallic alloy further contains at least one of Zr and Hf in addition to the basic elements.