In this work, new Ge-containing Fe-based nanocrystalline alloys with the composition of Fe80.2Si3B12-xP2Nb2Cu0.8Gex (x = 0, 1, 2 at.%) were developed, and the effects of Ge content on the magnetic and crystallization processes of the alloys were investigated. The addition of Ge extends the annealing window of the present Fe-based alloys, which reaches 173.6 K for the alloy of x = 2. The nanocrystalline alloy of x = 2, composed of dense and uniformly distributed α-Fe grains with an average grain size of 15.7 nm precipitated in the amorphous matrix, was obtained by conventional annealing treatment at a temperature of 843 K for 10 min, and this nanocrystalline alloy exhibited excellent magnetic properties with the Hc of 3 A/m and Bs of 1.65 T, which has great potential for industrial application. Non-isothermal crystallization kinetics studies show that the nucleation activation energy of the alloys gradually decreases with the increase in Ge content. The primary crystallization process is dominated by the direct growth of pre-existing nuclei in the as-spun alloy ribbons, and these pre-existing nuclei provide numerous heterogeneous nucleation sites to form dense and uniform α-Fe nanocrystals with a fine grain size, which leads to the excellent magnetic properties of the present Ge-containing Fe-based nanocrystalline alloys.