The excellent casting behavior and mechanical and corrosion properties of aluminum-silicon (Al-Si)-based alloys make them ideal for the manufacture of lightweight components with complex geometries. However, these properties depend directly on their microstructure, which, in its turn, is strongly affected by the composition of the alloy, among other factors. Several elements can be added to the material aiming to promote microstructural changes, e.g., grain refinement, optimization of phase morphology and distribution, and precipitation strengthening. Efforts are continuously put into such enhancements of cast Al alloys since they lead to quality improvements that allow for weight reduction and safety increase. Considering the technological relevance of the subject, this paper provides an overview of the research focused on the addition of alloying elements to these alloys, with a greater focus on Al-Si-based systems and the comprehension of the effects of these additions on their microstructure and properties.