Fe–B–C wear-resistant alloy, as a new type of iron-based wear-resistant materials, has drawn extensive attention of the researchers in materials at home and abroad. The boron concentration plays an important role in the microstructure and mechanical properties of Fe–B–C wear-resistant alloy. In this paper, the solidification microstructure, volume fraction of eutectic, macro and micro hardness of Fe–B–C alloy are researched. The samples are measured by optical microscopy (OM), scanning electron microscopy (SEM), Rockwell-hardness tester, Vickers-hardness tester. Image processing software such as image-pro and photoshop are used. The content of boron in experiment alloys are 1.0%, 1.5%, 2.0%, 2.5% and 3.0% respectively. As a result, the solidification microstructure of as-cast Fe–B–C mainly consists of metallic matrix and eutectic structure. The eutectic phase is continuous netlike distribution along the grain boundary. As boron concentration increases, the volume fraction of borocarbide increases in the matrix, and the size is larger. The hardness of Fe–B–C also has a tendency to rise with the increase of boron concentration.