An aluminum electric wire includes an annealing conductor that is made up of elemental wires made of an aluminum alloy containing 0.90-1.20 mass % Fe, 0.10-0.25 mass % Mg, 0.01-0.05 mass % Ti, 0.0005-0.0025 mass % B, and the balance being Al and has a tensile strength of 110 MPa or more, a breaking elongation of 15% or more, and an electric conductivity of 58% IACS or more, and an insulating material covering the conductor. The wire is produced by casting an aluminum alloy prepared by rapidly solidifying a molten aluminum alloy having the above composition, producing the wires by subjecting the alloy to plasticity processing, producing the conductor by bunching the wires, subjecting the wires or the conductor to annealing at 250° C. or higher, and then covering the conductor with the insulator.