The electronic properties of the intermetallic compound HfCo 3 B 2 were investigated using combined TDPAC measurements and first principles LAPW calculations. The V zz value at the hafnium site is determined from dominant positive pYp contribution, with less than 20%, negative sYd and dYd contributions. Based on the calculated density of state (DOS) at 0 K, a band contribution (g band ) of 7.26 (mJ/mol/K 2 ) to the value of the electronic specific heat coefficient (g) was obtained. This relatively low g band value is attributed to the hybridization between hafnium d-states, boron 2p-states and cobalt 3d-states, formed at the energy interval below E Fermi . This hybridization, together with the dip in the DOS around E Fermi , implies a possible reduction of the low temperature magnetic moment in this compound.