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In this paper, the structures and magnetic properties of Co-Zr-C alloys produced by melt-spinning technique are investigated. X-ray diffraction (XRD) is used to identify the phases in the specimen and their microstructures are examined using a scanning electron microscope (SEM). The magnetization is examined at a heating rate of 0.16 K/s in a helium atmosphere using a vibrating sample magnetometer at an applied field of 500 Oe. Results show that the saturation magnetization of the Co-Zr melt-spun ribbons can be improved by the substitution of C for Zr in the Co-Zr alloys and that this substitution promotes the formation of the new magnetic phase with high saturation magnetization and a high Curie temperature. Unlike the Co-Zr-B samples, annealing of the Co-Zr-C ribbons results in the decrease in the coercivity.