The multiphase alloy Zr 0.5 Ti 0.5 VMn, that is assumed to consist of the b.c.c. solid solution phase and the AB 2 type Laves phase, is designed as a variation of the ‘Laves phase related b.c.c. solid solution’. Observations of microstructure show that Zr 0.5 Ti 0.5 VMn consists of three phases: matrix C14, colonies of b.c.c. and small particle of α-ZrO 2 . In pressure-composition isotherms, a linear combination of hydrogen storage capacity and fraction of phases in Zr 0.5 Ti 0.5 VMn is found at any equilibrium pressure studied. Crystal structure and composition of each phase are investigated by combination of TEM-EDX and X-ray Rietveld analysis to discuss the relation between the Laves phase and the b.c.c. solid solution.