EN
Fe_{75}Co_5Zr_{10}B_{10} amorphous alloy prepared by melt-spinning was annealed at various temperatures. The thermal property and microstructures were investigated by differential thermal analysis, X-ray diffraction, and transmission electron microscopy. The crystallization process of Fe_{75}Co_5Zr_{10}B_{10} amorphous alloy is complex. The α-Fe phase precipitates from the amorphous matrix in the initial stage of crystallization. The α-Mn type (χ) phase precipitates at 570°C, but transforms to α-Fe phase and the Laves C14(λ) phase at higher temperature. In the final stage of crystallization, Fe_3Zr, Fe_2Zr, and unknown phases are observed and the λ-phase disappears. The α-Fe phase preferentially nucleates after annealing at 530C for 10 min and the χ-phase preferentially nucleates after annealing at 600C for 10 min. The nucleation barrier of χ-phase is larger than that of α-Fe phase. The local structure of χ-phase is more similar to amorphous phase.