Nd40Fe30Co15Al10B5 bulk amorphous prepared by high energy milling shows a coercivity of 650 kA/m with a Curie temperature of 645 K. The controlled nanocrystallization enhances the coercivity to 1600 kA/m and the remanence ratio is equal to 0.59. The coexistence of two crystalline magnetic phases, ferromagnetic Nd-2(Fe,Co,Al)(14)B, and antiferromagnetic Nd-6(Fe,Co,Al)(14) are revealed by x-ray diffraction, high-resolution transmission electron microscopy, magnetization measurements, and Mossbauer spectrometry. The grain size for optimal magnetic properties is around 30 nm. The nucleation process may play a leading role in the high magnetic behavior. (C) 2006 American Institute of Physics.