High-performance α-Fe/Pr2FelnB-type nanocomposite magnets based on the compositions of PrsFes6B6 microalloyed with Co, Nb and C were fabricated by direct melt spinning. The coercivity was greatly improved from 5.5 kOe for the Pr8Fe86B6 ribbons to 7.4 kOe for the Pr8Fe85NbB5C ribbons. The balanced high coercivity and remanence were obtained in Pr8Fe75Co10NbB5C ribbons due to the Co substitution for Fe, which led to the significant improvement of magnetic properties in these ribbons. A remanence ratio of 0.82, a coercive field of 6.6 kOe and a maximum energy product of 26.2 MGOe in melt-sptm Pr8Fe75Co10NbB5C ribbons were ob- tained at room temperature.