Ce x Pr2−x Fe17 (x = 0.0, 0.1, 0.2, 0.3, 0.4) alloy powders were successfully synthesized by arc smelting and a high energy ball milling method. The structure, morphology, magnetic properties and electromagnetic parameters of the powders were studied by x-ray diffraction (XRD), scanning electron microscopy (SEM), a vibrating sample magnetometer (VSM) and a vector network analyzer (VNA), respectively. The results show that the saturation magnetization decreases with an increase of Ce concentration. The minimum absorption peak frequency shifts towards a higher frequency region firstly and then towards a lower frequency region based upon the Ce concentration. The Ce x Pr2−x Fe17 alloys exhibit good microwave absorbing properties. The minimum reflection loss of Ce0.1Pr1.9Fe17 powder is about −13.67 dB at 6.40 GHz, and the frequency bandwidth of RL < −8 dB reaches about 2.24 GHz with a thickness of 1.8 mm.