An aluminum alloy sheet which has high strength enabling application to automobile body sheet and which is excellent in press-formability and shape fixability and a method of production of the same are provided. Aluminum alloy sheet having a composition of ingredients which contains Mg, Fe, and Ti, restricts the impurity Si to less than 0.20 mass %, and has a balance of Al and unavoidable impurities and a metal structure with an average grain size of less than 15 μm and having second phase particles with a circle equivalent diameter of 3 μm or more in a number of less than 300/mm2 and having a tensile strength of 240 MPa or more, a yield strength of less than 130 MPa, an elongation of 30% or more, and a plane strain fracture limit at a strain rate of 20/sec of 0.20 or more.