The magnetic and magnetocaloric (MCE) of the amorphous RE
55Co30Al10Si5(RE = Er and Tm) ribbons were systematically investigated in this paper. Compounds with R = Er and Tm undergo a second order magnetic phase transition from ferromagnetic (FM) to paramagnetic (PM) around Curie temperature T
C ~ 9.3 K and 3 K, respectively. For Er55Co30Al10Si5 compound, an obvious magnetic hysteresis and thermal hysteresis were observed at low field below 6 K, possibly due to spin-glass behavior. Under the field change of 0-5 T, the maximum values of magnetic entropy change (−ΔS
M
max
) reach as high as 15.6 J/kg K and 15.7 J/kg K for Er55Co30Al10Si5 and Tm55Co30Al10Si5 compounds, corresponding refrigerant capacity (RC) values are estimated as 303 J/kg and 189 J/kg, respectively. The large MCE makes amorphous RE
55Co30Al10Si5 (RE = Er and Tm) alloys become very attractive magnetic refrigeration materials in the low-temperature region.