Iron-Chromium-Aluminum (FeCrAl) alloys are almost a century old. However, for many decades these alloys were used mainly as heating elements in furnaces and in related applications. In the last decade the FeCrAl alloys found increasing interest in nuclear applications, both for Generation III water reactors and in Generation IV advanced reactors. FeCrAl alloys can be considered smart alloys since they respond to the environment in different ways depending of the conditions of the environment. FeCrAl are produced by powder metallurgy and have superior mechanical properties at temperatures ranges intended for future reactors.