• Cooling rate critically controls the volume fraction of Al-Li phases (AlLi and MgLi2Al) in annealed LAZ832 alloy, with slower cooling increasing their presence.
• Solid solution strengthening from Al and Zn dissolution enhances tensile strength but reduces ductility at high solute levels.
• Air cooling achieves the best balance of strength, ductility, and corrosion resistance, outperforming furnace cooling and offering a compromise over water quenching.
• Elevated work function, measured by SPM, correlates with improved corrosion resistance due to solute dissolution.
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