The impact of oxide particles on the mechanical properties of Fe3Al matrix composites has been analyzed. Iron aluminide reinforced with oxide particles was fabricated from milled powder mixtures of iron and aluminum using hot forging under various technological regimes. Strengthening occurred due to the formation of aluminum oxide-based nanoparticles, which predominantly formed near interparticle boundaries. Structure dispersion through dynamic recrystallization allowed for an increase in low-temperature strength to 1835 MPa. Dispersed oxide particles enhanced high-temperature strengthening at 700 °C to 300–350 MPa under compression and 200–220 MPa under tension. TEM analysis of the working sections of samples after high-temperature tension revealed the formation of micropores at some boundaries between particles and the matrix, leading to the occurrence of the SD effect (a difference in yield stress under tension and compression). In the optimal structural state, alloys reinforced with oxide particles retained their creep resistance up to a temperature of 700 °C.