The Co82-xZr18Crx (x=0, 2, 3, 4) alloys are produced by melt-spinning. It is found that a proper addition of Cr can improve the coercivity significantly and a maximum coercivity of 6.5 kOe is obtained in the Co79Zr18Cr3 ribbon after having been annealed at 600 ℃. X-ray diffraction and thermomagnetic analysis are employed to determine its phase composition. It is found that the sample is comprised of the single Co11Zr2 and the Cr atoms enter into its lattice. A significant enhancement in the magnetocrystalline anisotropy field of Co11Zr2 is observed. SEM investigations show a microstructure consisting of equiaxed grains whose average size is about 400-500 nm. The coercivity enhancement in the Co79Zr18Cr3 alloy is ascribed to the increase in Ha.