To improve the strength and ductility of Mg-Li alloy, sheets of a novel Mg-9.3Li-1.79Al-1.61Zn alloy were produced by casting and rolling. The microstructures and mechanical properties of the alloy were investigated by optical microscope, Xray diffractometer (XRD), transmission electron microscope (TEM), scanning electron microscope(SEM), microhardness tester and tensile tester. Microhardness tests reveal that the hardness of the coldrolled sheet reaches the highest value. Tensile tests show that the elongation to failure of 24% and the ultimate tensile strength of 209 MPa were obtained in the coldrolled alloy. Optical microstructural examination exhibits that hotrolled microstructures are composed of banded or elongated grains. After annealing at 573 K for 1 h for the coldrolled sheet, the alloy is in a partially recrystallized state. Oriental distribution function (ODF) maps were used to analyze the textures of duplex phases formed during hot rolling, cold rolling and annealing, we found that more texture components exist in the βLi phase than those of the αMg phase and the texture intensity of the βLi phase is relatively lower. TEM observations reveal the existence of Al2Mn phase in the tensile specimen and the existence of AlLi phase in the asannealed microstructure. XRD analysis further confirms the existence of the AlLi phases. SEM examination of the fracture surface of tensile specimen reveals that its fracture mode is a ductile fracture. Above mentioned results of mechanical properties are consistent with the microstructural evolution.