A single Sb phase demonstrates potential for use in phase change memory devices. However, the rapid crystallization of Sb at room temperature imposes limitations on its practical application. To overcome this issue, Sb is alloyed with Se using a reactive co-sputtering deposition technique, employing both Sb and Sb2Se3 sputter targets. This process results in the formation of Sb-rich Se thin films with varying compositions. Compared to pure Sb, the Sb-rich Se thin films exhibit enhanced thermal stability due to the formation of Sb–Se bonds and reduced resistance drift. In particular, the Sb86.6Se13.4 thin film demonstrates an exceptionally low resistance drift coefficient (0.004), a high crystallization temperature (Tc = 195 °C), a high 10-year data retention temperature (116.3 °C), and a large crystallization activation energy (3.29 eV). Microstructural analysis of the Sb86.6Se13.4 reveals the formation of a trigonal Sb phase with (012) texture at 250 °C, while Sb18Se and Sb2Se3 phases form at 300 °C. Conversely, the Sb98.3Se1.7 thin film shows the formation of the single Sb phase with (001) texture, a Tc of 145 °C, and a low resistance drift coefficient (0.011). Overall, this study demonstrates that the alloying strategy is a viable approach for enhancing thermal stability and reducing resistance drift in Sb-based phase-change materials.