An aluminum alloy substrate for a magnetic disc is made of an aluminum alloy, containing Fe: 1.80 mass % or less, Mn: 0.70 mass % or less, Ni: 2.50 mass % or less, Si: 2.50 mass % or less, Cu: 1.00 mass % or less, Zn: 0.48 mass % or less and Mg: 1.00 to 3.50 mass %, wherein a total content of Fe, Mn and Ni is 1.60 to 4.50 mass % and a mass ratio of Cu/Zn is 0.01 to 0.35 or 6.00 to 50.00, with a balance being Al and inevitable impurities.