Magnesium alloys have good biocompatibility because they have mechanical properties similar to those of human bones, are biodegradable, and release non-toxic corrosion products and ions in the human body. In this study, a new type of Mg70−xZn30Cex (x = 2, 4, 6, and 8) amorphous magnesium alloy was prepared by copper roller melt-spinning, and the corresponding mechanical properties and corrosion resistance were studied. The results showed that when x = 4 and 6, the Mg-Zn-Ce amorphous alloys had decent amorphous forming abilities. The addition of Ce could effectively improve the ductility of the magnesium-based amorphous alloys with an elastic modulus of each sample ranging between 30 and 58 GPa, which was similar to that of human bones; thus, these materials could effectively prevent the stress shielding effect caused by excessive elastic modulus after implantation. Additionally, the addition of an adequate amount of Ce significantly improved the corrosion resistance of the alloy. The experimental results showed that the best corrosion resistance of the magnesium-based amorphous alloys was achieved when x = 6.