The Fe–Si–B–P–C metallic glassy alloys exhibit relatively high glass forming ability (GFA) as well as good soft magnetic properties such as ultra-low core loss. In this paper, the metallic glassy alloy (Fe 0.76 Si 0.09 B 0.10 P 0.05 ) 98 C 2 has been newly developed. A new Fe-based amorphous compound powder was prepared from FeSiB amorphous powder by crushing the amorphous ribbons as the first magnetic component and FeSiBPC metallic glassy powder by water atomization as the second magnetic component. Subsequently by adding organic and inorganic binders to the compound powder and cold pressing, the new Fe-based amorphous compound powder cores were fabricated. These new Fe-based amorphous compound powder cores combine the superior DC-bias properties and the excellently low core loss. The core loss of 453kW/m 3 at B m =0.1T and f=100kHz was obtained when the mass ratio of FeSiB/FeSiBPC equals 3:2, and meanwhile the DC-bias properties of the new Fe-based amorphous compound powder cores just increased by 10% at H=100Oe for μ=60 compared to those of the FeSiBPC powder cores. In addition, with the increase in the content of the FeSiPC metallic glassy powder, the core loss tends to decrease.