The phase transformation and magnetic properties of nanocomposite (Nd0.95La0.05)9.5(Fe1−xCrx)81.5B9, where x=0, 0.033, 0.067, and 0.1, melt–spun ribbons have been studied. For Cr-free ribbons (i.e, x=0,) a slight substitution of La for Nd decreases the crystallization temperature of the over-quenched ribbons. Moreover, the (Nd, La)3Fe62B14 and (Nd, La)2Fe23B3 phases were found to coexist with (Nd, La)2Fe14B/Fe3B/α-Fe phases in the crystallized (Nd0.95La0.05)9.5Fe81.5B9 ribbons. The crystallization temperatures of (Nd0.95La0.05)9.5Fe1−xCrx)81.5B9 were found to increase with Cr concentration. The intrinsic coercivity of (Nd0.95La0.05)9.5(Fe1−xCrx)81.5B9 increased from 6.2 kOe for x=0 to 10.7 kOe for x=0.1: Transmission electron microscopy-energy dispersion analytical x-ray analyses indicated that the increase in intrinsic coercivity may be associated with the increase in Cr concentration around grain boundaries. A sample with Br=8.3 kG, H0=9.1 kOe,i and (BH)max=12.5 MGOe was obtained on (Nd0.95La0.05)9.5(Fe0.967Cr0.033)81.5B9 after appropriate thermal treatment.