Knudsen-cell mass spectrometry and the integral variant of effusion method have been applied to investigate the thermodynamic properties of liquid Fe-Si-B alloys at temperatures from 1423 to 1894 K over concentration intervals of 9-88.8 at. pct Fe, 2.6-81.4 at. pct Si, and 7.5-50 at. pct B.The activity values of the components and the Gibbs energy of the Fe-Si-B melt formation have been determined over a wide temperature-concentration range. The concentration and temperature dependences of the thermodynamic functions of liquid Fe-Si-B alloy have been described adequately within the ideal associated-solution model under the assumption that binary and ternary associates exist in the melt. The relevance of the model was tested in the undercooled region. The glassforming ability of the melt as shown could be interpreted in terms of the thermodynamic parameters of the association reactions. A specific role of ternary interaction was clarified.