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In order to improve the corrosion and heat resistance of Al-Mg-Si alloy conductor materials, Ce, Sc, Y and Zr were added in Al-Mg-Si alloy to regulate the microstructure. The Al-Mg-Si-Ce-Sc-Y alloy was designed with excellent pitting and intergranular corrosion resistance by obtaining the micron-sized Fe-containing second phase with a lower potential difference to Al matrix, more dispersed grain boundary precipitates with a higher proportion of Si particles, narrower width of PFZ and ideal distribution of intergranular precipitates. The Al-Mg-Si-Ce-Sc-Y alloy also maintained higher hardness, strength and electrical conductivity after overaging and annealing and the corrosion/heat resistance mechanisms were proposed. • The corrosion and heat resistance of Al-Mg-Si alloy conductors were further enhanced. • The mechanisms of pitting and intergranular corrosion mechanisms in Al-Mg-Si alloys were proposed. • The microalloying of Ce，Sc and Y in Al-Mg-Si alloys with high electrical conductivity was established. [ABSTRACT FROM AUTHOR]