Mechanical alloying of Fe NiZr B powders leads to the formation of a -FeNi phase. In order to obtain single -phase, a powdered sample was solution annealed in the -phase field and water quenched. The Curie temperature of this powder was slightly higher than room temperature. The refrigerant capacity calculated for this alloy, kg for 5 T, is comparable to other prominent room temperature magnetocaloric materials, making this alloy a good candidate for magnetic refrigeration near room temperature with additional benefits that is non-rare earth containing and less expensive than many alternatives.