An aluminum electric wire 10 includes an annealing conductor 14 that is made up of elemental wires 12 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 16 covering the conductor 14. The wire 10 is produced by casting an aluminum alloy prepared by rapidly solidifying a molten aluminum alloy having the above composition, producing the wires 12 by subjecting the alloy to plasticity processing, producing the conductor 14 by bunching the wires 12, subjecting the wires 12 or the conductor 14 to annealing at 250°C or higher, and then covering the conductor 14 with the insulator 16.