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The paper describes the influence of severe plastic deformation (SPD) on the crystallization of the amorphous rapidly quenched Ti-Ni and Nd-Fe-B alloys. It has been revealed that the SPD by high pressure torsion (HPT) at room temperature leads to formation of nanocrystals in these initially amorphous alloys. The subsequent annealing of these HPT-processed alloys leads to formation of homogeneous nanocrystalline structure. The SPD processing of the amorphous alloys can be used as a novel method for producing bulk nanocrystalline materials.