The method of spectral ellipsometry is used in the spectral range of 0.52–2.7 eV for measuring the optical constants of liquid, amorphous, and polycrystalline alloys of Al-8 at.% Ce. The results are used to calculate the dispersion dependences of light conduction, of reflectivity, and of functions of characteristic loss of electron energy of these alloys. It is found that the band-to-band transitions have a significant effect on the optical properties of alloy in the amorphous and polycrystalline states. Two absorption bands are observed in the spectra of light conduction of these alloys, namely, in the amorphous alloy at photon energy of 1.72 eV and 0.69 eV, and in the polycrystalline alloy at 1.55 eV and 1.03 eV. The reflectance spectra of liquid and amorphous alloys almost coincide, which is due to the similarity of their atomic structures.