The FeB nanoparticle consisting of 5000 particles (4500 Fe atoms and 500 B atoms) have been investigated by means of molecular dynamics (MD) simulation. When the amorphous FeB nanoparticle is annealed at temperature of 900 K for a long time, it is crystallized into bcc crystalline structure. The simulation shows that the sample undergoes crystallization via the nucleation mechanism. During the crystallization, B atoms diffuse to the boundary region of Fe crystal. The crystal growth proceeds when this boundary region attains specific properties which are defined by the fraction of B atoms and the energies of AB-atoms and CB-atoms. Further our study indicates that the crystalline and mixed FeB nanoparticles consists of three distinct parts including Fe crystalline and two FeB amorphous parts (B-poor and B-rich amorphous part). The different polymorphs of FeB nanoparticle differs in the local structure, size of Fe crystal and energies of different type atoms.