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The effects of Nb addition on the hard magnetic properties and microstructure evolution in Nd8Fe78-xCo8B6Nbx and Nd12Fe82-xB6Nbx nanocrystalline alloys are presented. Low Nd containing alloys consist of α-Fe and Nd2Fe14B phases. The Nd12Fe80.5B6Nb1.5 alloy probably contains NbFeB phase besides the α-Fe and Nd2Fe14B phases. It is found that Nb atoms tend to enrich at grain boundary regions, resulting in refined microstructure and significantly improved coercivity over a range of conventional Nd-Fe-B alloys.