Both the magnetic susceptibility χ(x, y) and the 1H‐Knight shift KH(x, y) of the ternary systems Ta1−xVxHy and Nb1−xVxHy were studied by high resolution 1H‐NMR Fourier transform spectroscopy. χ(x, y) always increases as a function of the vanadium concentration x and decreases with increasing hydrogen concentration y. In contrast, the 1H‐Knight shift KH(x, y) is strongly influenced by vanadium at low hydrogen concentrations. For both systems the shape of KH(x, y) behaves analogously to the shape of KH(x, y) of the systems Ta1−xTixHy and Nb1−xTixHy. The same similarities were found with respect to the temperature dependence of the 1H‐Knight shift. KH is nearly independent of temperature for the binary systems TaHy and NbHy whereas it increases with increasing temperature for the systems Ta0.9V0.1Hy and Nb0.9V0.1Hy. Such a behavior was observed for the ternary system Ta0.9Ti0.1Hy, too. From the temperature dependence of χ(T) and KH(T) we conclude that the V‐3d‐wavefunctions as well as the Ti‐3d‐wavefunctions produce a negative hyperfine field at the proton site. In contrast, we find a positive hyperfine field at the proton site caused by the spin part of the d‐electrons in the case of TaHy and NbHy. Additionally, measurements of the longitudinal relaxation time T1 were carried out on the systems TaHy —Ta0.9V0.1Hy. At low hydrogen concentrations the dipolar contribution to T1 differs strongly for both systems. This may be a consequence of trapping processes of the hydrogen atoms in the neighborhood of the vanadium atoms.