The present report describes phase formation, magnetic and corrosion behavior of the AlCrFeMnNiTi high entropy alloy (HEA) synthesized through mechanical alloying. Simple solid solution of FCC and BCC phases are evolved after 25h of MA. DSC analysis confirms that the synthesized phases of AlCrFeMnNiTi HEA are stable up to 550 degrees C and a re-crystallization is occurred at temperature greater than 550 degrees C. In order to investigate the effect of annealing on phase formation and magnetic characteristics, the synthesized HEA was annealed at 700 degrees C for 1h and found that the volume fraction of BCC phase decreased. The synthesized HEA shows better ferromagnetic behavior with M-s=17.55emu/g and H-c=153.8Oe as compared to some of the recently reported HEAs and previously reported CrFeMnNiTi HEA by us. Moreover, corrosion behavior of the annealed AlCrFeMnNiTi high entropy alloy in 0.5M and 1M NaCl solution is also investigated. It is found that the annealed HEA shows good corrosion resistance in 0.5M NaCl solution due to the presence of Al.