The microstructure and mechanical properties of SiC/Al-40Si composites prepared under high pressure were studied. As the pressure increases from 1 atm to 3 GPa, the primary Si phase in the Al-40Si alloy is refined. With increasing pressure, the composition of the eutectic point increases, the solute diffusion coefficient decreases exponentially, and the concentration of Si solute at the front of the solid–liquid interface of the primary Si is low, which contributes to the refining of the primary Si and inhibiting its faceted growth. The bending strength of SiC/Al-40Si composite prepared under 3 GPa was 334 MPa, which was 66% higher compared to the Al-40Si alloy prepared under the same pressure.