Provided are an alloy production method that may easily distribute a compound in a matrix of an alloy while maintaining the quality of a molten metal, and an alloy produced by the same. In accordance with an exemplary embodiment, the method includes forming a molten metal in which a mother alloy including at least one kind of first compound and a casting metal are melted, and casting the molten metal, wherein the mother alloy is a magnesium mother alloy or aluminum mother alloy.