The Nd10Fe83Zr1B6 alloy ribbons, prepared by melt-spinning technique, have been investigated by X-ray diffraction (XRD) and Mossbauer spectroscopy. Magnetic properties were studied by Faraday balance and vibrating sample magnetometry (VSM). The ribbon samples were produced at various surface velocities of the copper wheel from 10 m/s to 20 m/s. The XRD and Mossbauer spectra analysis have shown that the ribbons consist of the soft magnetic alfa-Fe, hard magnetic Nd2Fe14B and disordered phases. The results showed that a uniform Nd2Fe14B/alfa-Fe nanocomposite structure with fine alfa-Fe grains can be obtained at an optimum velocity of the cooper roll of 20 m/s. The samples produced in these conditions had the best magnetic properties (mi0HC= 0.84 T, mi0MR = 1.05 T, mi0MS = 1.36 T, (BH)max = 160 kJ/m3) with strong exchange coupling between the hard magnetic Nd2Fe14B and soft magnetic mi-Fe phases. The amorphous phase existing between grains causes an increase in the remanence and remanence ratio