This paper studies the microstructural and magnetic properties of LaFe11.5Si1.5 compound by means of highresolution transmission electron microscope and bulk magnetometry measurements. The crystalline structure is accompanied with the noncrystalline and nanocrystalline structures. This characteristic is the reflection of the crystalline process held by quenching. The inverse susceptibilities diverge and deviate from Curie-Weiss law under low applied magnetic fields. This paper proposes the possible mechanism between the anomalous susceptibilities and microstructure, and offers a perspective on the magnetic properties of metastable intermetallic compounds.