In this study, the potential applications of Al–Mn–Mg 3004 alloy at elevated temperature have been evaluated through the systematic study of the precipitation behavior of α-Al(MnFe)Si dispersoids and their effect on material properties during precipitation treatment and long-term thermal holding. The results demonstrate a significant dispersion strengthening effect caused by the precipitation of fine uniformly distributed dispersoids during precipitation treatment. The peak compression yield strength (YS) at 300°C of the experimental 3004 alloy can reach as high as 78MPa due to a large volume fraction (~2.95vol.%) of α-Al(MnFe)Si dispersoids. The dispersoids are found to be thermally stable at 300°C for up to 1000h of holding, leading to consistently high mechanical performance and creep resistance. The superior and stable YS and creep resistance at 300°C enables the 3004 alloy to be applied to weight-sensitive applications at elevated temperatures. Display omitted •Significant strengthening of α-Al(MnFe)Si dispersoids during heat treatment is observed.•Remarkable contribution of dispersoids on strength and creep resistance at 300°C is present.•High thermal stability of dispersoids during long-term high temperature holding is discovered.•Potential applications of 3004 alloy at elevated temperature are explored.