The influence of Cr addition on glass-forming ability (GFA), corrosion resistance, and magnetic and mechanical properties of the Fe–Co–B–Si–Nb bulk glassy alloy (BGA) has been investigated. Except for a slight decrease in its GFA, the Cr addition caused an increase of corrosion resistance as well as an improvement of soft-magnetic properties and mechanical behaviors for this alloy within the composition range studied. BGA rods with diameters up to 4mm were produced by copper mold casting technique. These glassy alloys exhibit a rather high saturation magnetization of 0.811–1.040T, low coercive force of 0.6–1.7A/m, high effective permeability of (2.37–3.41)×10 4 at 1kHz under a field of 1A/m, and extremely low saturation magnetostriction of (0.43–4.17)×10 −6 . These BGAs also possess ultrahigh fracture strength of 4010–4274MPa, Young's modulus of 200–215GPa, elastic strain of about 2% and plastic strain reaching 0.7%. Moreover, the corrosion rate and corrosion current density of the glassy alloy rods in simulated industrial environments contaminated with SO 2 decreased significantly from 3.47×10 −2 to 9.2×10 −3 mm/year and 1.5×10 −5 to 6.7×10 −7 A/cm 2 , respectively, with increasing Cr content from 0 to 4at.%, illustrating that the addition of Cr is effective in increasing the corrosion resistance. Furthermore, the mechanisms for the high GFA, distinct plasticity strain, good corrosion resistance, and excellent soft-magnetic properties of the Fe-based BGAs are discussed.