Structural, magnetic, and magnetostrictive properties of two-sublattice Tb _0.27Dy _0.73 (Fe _1−xAl _x) ₂ polycrystalline intermetallic ferrimagnets ( x = 0−0.2 and 1.0) were studied using X-ray powder diffraction, magnetometry, and strain gauge magnetostriction measurements. Temperature dependences of magnetization starting from 80 K were presented, and Curie temperatures were estimated. Coercive force, residual, and saturation magnetizations were determined from the magnetic hysteresis loops at room temperature. Longitudinal, transversal, form and volume magnetostrictions were investigated against the x parameter and the intensity of the magnetic field. The piezomagnetic coefficients were determined and the maximum value at the field below 1 kOe, even enhanced than that in Terfenol-D, was observed for the material Tb _0.27Dy _0.73 (Fe _0.9Al _0.1) ₂. It means that this compound is promising for use in magnetoelectric composites.