Abstract: Rapid crystallization of melt-spun Nd₈Fe₈₆B₆ amorphous ribbons was carried out by high frequency induction heating. The result shows that amorphous ribbons are rapidly crystallized by rapid heating and nanocomposite Nd₂Fe₁₄B/α-Fe magnets are obtained. The magnetic properties of crystal- lized ribbons are strongly affected by the heating velocities. In order to obtain higher performance,pro- per heating velocities should cooperate with heating time. Melt-spun Nd₈Fe₈₆B₆ ribbons prepared by the optimal annealing process can obtain better magnetic properties as follows,（BH） _max=105.55kJ/m³, B_r=0.93T, H_ci=258.26kA/m.