The effect of refractory elements on the phase evolution and magnetic properties of melt-spun Pr-2(Fe0.975M0.025)(23)B-3 (M = Ti, Nb, V and Zr) ribbons has been investigated. Based on thermal magnetic analysis (TMA), a slight substitution of the selected refractory elements (Ti, Nb, V, and Zr) for Fe in Pr-2(Fe0.975M0.025)(23)B-3 can suppress the formation of metastable Pr2Fe23B3 and Fe3B phases and result in the presence of large amount of Pr2Fe14B and alpha-Fe phases of fine grain size (15-40 nm). The magnetic properties of the above ribbons are all improved remarkably, whereas M Ti is the best among them. By increasing the concentration of Ti, the optimal magnetic properties of B-r = 9.9 kG, H-i(c) 6.8 kOe, and (BH)(max) = 16.1 MGOe have been obtained in Pr-2(Fe0.970Ti0.030)(23)B-3. Furthermore, incorporating C with refractory elements Nb or Zr is effective in improving the coercivity of Pr-2(Fe,M)(23)(B,C)(3) (M = Nb and Zr) ribbons. (C) 2004 Elsevier B.V. All rights reserved.