Recently, a massive magnetocaloric effect near the liquefaction temperature of hydrogen has been reported in the ferromagnetic material HoB
2
. Here we investigate the effects of Dy substitution in the magnetocaloric properties of Ho
1-
x
Dy
x
B
2
alloys (
x
= 0, 0.3, 0.5, 0.7, 1.0). We find that the Curie temperature (
T
C
) gradually increases upon Dy substitution, while the magnitude of the magnetic entropy change |Δ
S
M
| and adiabatic temperature change Δ
T
ad
showed a gradual decrease. On the other hand, due to the presence of successive transitions in these alloys, the peak height of the above magnetocaloric properties tends to be kept in a wide temperature range, leading to a relatively robust figure of merit in a wide temperature span. These alloys could be interesting candidates for magnetic refrigeration in the temperature range of 10–60 K.