To prepare core-shell-structured Ti@compound particle (Ti@compoundp) reinforced Al matrix composite via powder thixoforming, the effects of alloying elements, such as Si, Cu, Mg, and Zn, on the reaction between Ti powders and Al melt, and the microstructure of the resulting reinforcements were investigated during heating of powder compacts at 993 K (720 °C). Simultaneously, the situations of the reinforcing particles in the corresponding semisolid compacts were also studied. Both thermodynamic analysis and experiment results all indicate that Si participated in the reaction and promoted the formation of Al–Ti–Si ternary compounds, while Cu, Mg, and Zn did not take part in the reaction and facilitated Al3Ti phase to form to different degrees. The first-formed Al–Ti–Si ternary compound was τ1 phase, and then it gradually transformed into (Al,Si)3Ti phase. The proportion and existing time of τ1 phase all increased as the Si content increased. In contrast, Mg had the largest, Cu had the least, and Si and Zn had an equivalent middle effect on accelerating the reaction. The thicker the reaction shell was, the larger the stress generated in the shell was, and thus the looser the shell microstructure was. The stress generated in (Al,Si)3Ti phase was larger than that in τ1 phase, but smaller than that in Al3Ti phase. So, the shells in the Al–Ti–Si system were more compact than those in the other systems, and Si element was beneficial to obtain thick and compact compound shells. Most of the above results were consistent to those in the semisolid state ones except the product phase constituents in the Al–Ti–Mg system and the reaction rate in the Al–Ti–Zn system. More importantly, the desirable core-shell structured Ti@compoundp was only achieved in the semisolid Al–Ti–Si system.