The phase relations in the (1−x)Nd2Fe14B–xSm2Fe14B system over the whole concentration range have been studied by means of X‐ray powder diffraction (XRD), differential thermal analysis (DTA) and scanning electron microscopy with energy‐dispersive X‐ray spectroscopy. Crystal structure parameters for all studied compositions of (Nd1−xSmx)2Fe14B have been determined by full‐profile Rietveld refinements. These results revealed that all intermediate alloys of (Nd1−xSmx)2Fe14B are similar to the end member of the investigated system, Nd2Fe14B, with a tetragonal structure (space group P42/mnm). The formation of continuous solid solutions has been found in this system. The normalized lattice parameters and unit‐cell volumes of (Nd1−xSmx)2Fe14B solid solutions decrease linearly with increasing Sm content. The DTA measurements show that the melting temperature of (Nd1−xSmx)2Fe14B increases linearly with increasing Sm content and no metastable phases were detected. Based on the DTA data and XRD results, a tentative phase diagram for the pseudo‐binary system Nd2Fe14B–Sm2Fe14B has been constructed.