Crystallization and its influence on magnetic properties and M?ssbauer spectra in the rapidly solidified amorphous Nd3Fe81B16 alloys are reported. The addition of 3at% Nd to FeB alloys raises the crystallization temperature from 435℃ for Fe81B19 to 523℃ for Nd3Fe81B16. After the crystallization at the optimal annealing condition the magnetic properties as permanent magnet were obtained to be: Br≈12kG, bHc = 2 kOe, and (BH)max≈8 MGOe, with room temperature seturation magnetization σs = 189 emu/g, remanence ratio σr/σs = 0.7 and intrinsic coercivity iHc = 2.15kOe. Comparing with widely used anisotropic BaFe12O19 ferrite, its Br and (BH)max is much higher. Therefore this material may be developed into a new cheap pe manent magnet. The influence of small addition of Nd on the physical properties of the alloys-are discussed. Based on the data from X-ray diffraction, M?ssbauer spectrocopy, SEM and magnetic measurments, the mechanism controlling the magnetization and demagnetization processes is thought to be domain wall pinning.