The microstructure and magnetic properties were investigated on the crystallization of amorphous Fe_(100-x-y)B_xNb_y (5≤x≤10, 5≤x≤9) alloy ribbons, which were produced by using a single-roll melt-spinning technique. The best magnetic properties were obtained for the alloy Fe_(84)B_9Nb_7 and the magnetic properties achieved are; the effective permeability of 12,000 at 1 ㎑, do coercive force of 10 A/m and the core loss of 90 W/㎏ measured at 100 ㎑, 0.2 T. These good magnetic properties were attributed to the formation of bcc-Fe crystalline phase with about l0㎚ grain diameter. The magnetic properties were reduced abruptly as the constitution deviates from the optimum composition. The rapid deterioration of the magnetic properties are due to the formation of Fe₃B for Fe_(93-x)B_xNb_7 (B≥10 at%) alloys and Fe₂Nb for Fe_(91-x)B_9Nb_y (Nb≥8 at%) ones.