Abstract: Low thermal expansion coefficient and high thermal conductivity are main property requirements of thermal management materials. Hypereutectic Al-Si alloys not only allow for the adjustment of the coefficient of thermal expansion, but also possess low density and high thermal conductivity, making them potential materials for thermal management in the field of electronics and electrical engineering. However, the hypereutectic Al-Si alloys display a poor machinability, which makes the traditional processing methods difficult to produce components with complex shapes. How to improve the machinability of the hypereutectic Al-Si alloys and prepare high-quality components is becoming a hot topic. The research progress of controllable thermal expansion Al-Si alloys in alloy design, as well as preparation methods such as liquid phase method, spraying method, and powder metallurgy method were primarily reviewed. Addressing the preparation and processing challenges of Al-Si alloys, the latest advancements in friction stir processing and additive manufacturing technologies for controllable thermal expansion Al-Si alloys were introduced.