A series of CexFebalB6 (x=12, 14, 17, 19, 23wt%) ternary ribbons was prepared by melt-spinning. Magnetic properties and microstructure of the Ce-Fe-B ribbons with different Ce content were investigated. XRD results indicated that multiphase coexisted in the as-spun Ce-Fe-B ribbons, which contained Ce2Fe17, CeFe2, Ce-rich phase, Fe-rich phase, cerium oxide and iron oxide. The magnetic properties, microstructure and phase composition of the ribbons were directly affected by the cerium content. The magnetic properties could be obtained by exchange coupling between the hard and soft magnetic phases in the pure ternary Ce-Fe-B ribbons. Furthermore by heat-treatment the magnetic properties of the as-spun Ce-Fe-B ribbons could be optimized. The highest magnetic properties of Hcj=6.2 kOe, Br=6.9 kGs and (BH)m=8.6 MGOe were obtained in Ce17FebalB6 magnets.