Background: The Advanced Lung Cancer Inflammation Index (ALI) serves as an independent prognostic biomarker, effectively assessing inflammatory and nutritional status across various medical conditions, including cancers, heart failure, and acute coronary syndromes. This study aims to evaluate the prognostic value of ALI in patients suffering from ST-elevation myocardial infarction (STEMI) who underwent primary percutaneous coronary intervention (pPCI). It also compares the predictive efficacy of ALI with the well-established Neutrophil-Lymphocyte Ratio (NLR). Methods: A retrospective analysis was performed involving 1,171 patients from the Matrix Registry, which gathered comprehensive demographic and clinical data of STEMI cases treated with pPCI. The ALI was calculated using the formula [serum albumin (g/dL) × body mass index (kg/m²)]/NLR at hospital admission. The primary outcome evaluated was all-cause mortality. Results: Among the 1,171 patients, 86 succumbed during the follow-up. Univariate analysis identified several mortality-related factors, including age, gender, smoking, hypertension, diabetes, prior myocardial infarction (PMI), lower left ventricular ejection fraction (LVEF), and diminished ALI. Multivariate analysis highlighted age (HR: 1.1, p < 0.001), PMI (HR: 2.4, p = 0.001), alongside ALI (HR: 0.95, p < 0.001) and LVEF (HR: 0.98, p = 0.04) as independent predictors. An ALI threshold of ≤10 correlated with a 2.3-fold increase in mortality risk (HR: 2.3, p < 0.001). The area under the curve for ALI (0.732) exceeded that of NLR (0.685), affirming ALI’s enhanced predictive ability. Conclusions: ALI emerges as a critical independent prognostic marker for all-cause mortality in STEMI patients treated with pPCI, exhibiting superior discrimination compared to NLR, particularly in individuals with ALI values ≤10, indicating a significantly elevated mortality risk.