The influence of boron on crystallization and magnetic properties of the Fe98‐xNb2Bx, (x = 11, 14, 16, 18, 20, 22) group of alloys obtained by melt spinning method were investigated. Relative magnetic permeability (µr), parallel magnetostriction coefficient in saturated magnetic field (λ||s) and resistivity (ρ) were determined for samples in the as quenched state and after 1 h annealing in the vacuum. It was found that the characteristic temperatures, that is the Curie temperature (Tc), the temperature of the first stage of crystallization (Tx1), and the 1‐h temperature of soft magnetic properties optimization annealing (Top) increase with increasing boron content in the examined alloys. The observed increase of the Curie temperatures is explained based on the molecular field approach. Mechanism of the increase of the characteristic temperatures Tx1 and Top with increasing B content is discussed in terms of the diffusion model. Activation energies (Ex1) of the first stage of crystallization were determined. Microstructures of samples in the as quenched state and after annealing were examined by X‐ray diffraction and high resolution electron microscopy methods.