Nanostructured Pr 8 Fe 86− x V x B 6− y C y (x=0, 1; y=0, 1) ribbons composed of Pr 2 Fe 14 B and α-Fe phases with a high coercivity are fabricated by direct melt spinning. The effects of a single addition of V and a combined addition of V and C on the structures and magnetic properties of melt-spun Pr 8 Fe 86 VB 6− x C x (x=0 and 1) ribbons have been investigated. Compared with addition-free ribbons, 1 at% V addition is found to reduce the grain sizes of the samples and improve their magnetic properties due to a strong exchange coupling between the hard and the soft phase. A remanence ratio of 0.82, a coercive field of 6.2kOe and a maximum energy product of 23.4MGOe in melt-spun Pr 8 Fe 85 VB 6 ribbons are obtained at room temperature. The combined addition of V and C is found to lead to the formation of an intermediate phase of VC at grain boundaries, which appears as a pinning barrier during magnetization and results in an increase of the coercivity value to 6.9kOe for melt-spun Pr 8 Fe 85 VB 5 C ribbons.