This article examines the utilization of fly ash in comparison with alumina as raw materials and sources of aluminium oxide for synthesis of forsterite-spinel refractory ceramics. Raw materials were milled, mixed in different ratios into two sets of mixtures and sintered at 1500°C for 2 hours. Sintered samples were characterized by X-ray diffraction analysis and scanning electron microscopy. Samples were also subjected to determination of porosity, water absorption and bulk density. Thermal and thermomechanical properties were determined by thermal analyses, refractoriness, refractoriness under load, thermal shock resistance and thermal dilatometric analysis with determination of thermal expansion coefficient. Mixtures with 10 wt.% and 20 wt.% of fly ash had the most promising results compared to alumina mixtures. Thermal shock resistance and modulus of rupture were improving with increasing content of aluminium oxide in the mixture.