The effect of oxygen content in zirconium on the structure and mechanical properties of the Cu 46 Zr 42 Al 7 Y 5 alloy, in the form of melt-spun ribbons and suction-cast rods, was investigated. Two types of Zr, rod and crystal bar of different nominal purities and oxygen contents, were used to synthesize the alloy by arc melting. Rapidly solidified ribbons were produced by melt spinning and their amorphous structures were confirmed by X-ray diffractometry (XRD) and differential scanning calorimetry (DSC). Bulk samples in the form of rods were cast using a special water-cooled suction casting unit attached to the arc melting system. XRD and DSC studies proved the amorphous structure of the bulk alloy synthesized from low-oxygen Zr and partial crystallization of the same alloy for high-oxygen Zr. In both bulk samples, uniformly distributed crystalline particles were identified as yttrium oxides. Higher mean compressive strength of amorphous alloy was observed. The hardness of amorphous phase was close to 500 HV1 in both bulk alloys, while the hardness of crystalline dendritic areas, observed in the alloy synthesized from high oxygen Zr, was lower by about 50 HV1.