The microstructural and magnetic properties of melt-spun ribbons with the composition (CexNd100-x)30FebalCo4Ga0.2B0.92 (where x = 50, 60, 70, 80, and 90) were investigated. The ribbons were examined with Scanning Electron Microscopy (SEM), Transmission Electron Microscopy (TEM), and Vibrating Sample Magnetometry (VSM). It was found that the grain size of the ribbons is on the nanometer scale, and the grain size decreases with decreasing Ce content. The magnetic hysteresis loops showed that the magnetic properties of the ribbons gradually deteriorated with increasing Ce content. This is because the magnetic polarization (J s ) and magnetocrystalline anisotropy field (H A ) of Ce2Fe14B are smaller than those of Nd2Fe14B. Furthermore, from the initial magnetization curve it was found that increasing the Ce content changes the coercive force mechanism to the nucleation mechanism. When Ce content accounts for 90% of total rare earth metals, the coercive force mechanism mainly appears to be a nucleation mechanism.