Ni-B alloy films are prepared by electrodeposition with a Watt’s bath-based electrolyte. The B content decreases from 14.3 at.% to 2.8 at.% as the current density increases from 1 A/dm2 to 4 A/dm2. For applications in miniaturized electronics, the micro-scale mechanical property is evaluated by micro-compression test using micro-pillar type specimens. As-deposited Ni-B alloy films exhibit high mechanical strengths and ductility. The Ni-B alloy films are heat treated to evaluate the thermal stability. After the heat treatment, strengthening and formation of an intermetallic compound, Ni3B, are confirmed. The deformation behavior of the micro-pillars changes from ductile to brittle after the 250 °C heat treatment, and the compressive strength of the Ni-B alloy film having the B content of 2.8 at.% reaches 5.67 GPa due to the precipitation strengthening mechanism by the Ni3B.