This work explored and contrasted the effect of microstructure on the tensile properties of AlSi10Mg alloys generated by transient directional solidification depending on variations in cooling rate and Magnesium (Mg) content (i.e., 0.45 and 1wt.% Mg), with a focus on understanding the dendritic growth and phases constitution. Optical and Scanning electron (SEM) microscopies, CALPHAD and thermal analysis were used to describe the microstructure, forming phases and resulting tensile properties. The findings showed that the experimental evolution of the primary dendritic spacing is very similar when both directionally solidified (DS) Al-10wt.% Si-0.45wt.% Mg and Al-10wt.% Si-1wt.% Mg alloys samples are compared. The secondary dendritic spacing was lower for the alloy with more Mg, especially considering the range of high growth velocities. Moreover, a greater fraction of (Al+Si+Mg2Si) ternary eutectic islands surrounding the -Al dendritic matrix was noted for the alloy with 1wt.% Mg. As a result of primary dendritic spacings greater than 180 m related to lower cooling rates, slightly higher tensile properties were attained for the Al-10wt.% Si-0.45wt.% Mg alloy. In contrast, combining dendritic refining (< 150 m) and larger Mg2Si fraction, fast solidified DS Al-10wt.% Si-1wt.% Mg samples exhibited higher tensile strength and elongation. The control of cooling rate and fineness of the dendritic array provided a new insight related to the addition of Mg in slightly higher levels than conventional ones, capable of achieving a better balance of tensile properties in AlSi10Mg alloys.