The present invention refers to a vermicular cast iron alloy specially designed for internal combustion engine blocks and heads having special requirements of mechanical strength and fatigue strength. Vermicular iron alloy with high mechanical strength and high fatigue strength for the production of internal combustion engines blocks and heads characterized by having a microstructure of pearlitic matrix and predominantly vermicular graphite (>70%) and presence of graphite nodules in up to 30%, wherein its graphite microstructure is described by the Microstructure Factor (FM), as defined below, with Microstructure Factor values higher than 0.94.