In the present paper the influence of RE alloying additions (Y, Gd, Tb and Dy) on magnetic properties (Curie temperatures, low temperature magnetization, zero field cooling–field cooling curves, domain structure, room temperature magnetostriction and magnetic permeability) of amorphous alloys of type Fe 82Nb 2B 14RE 2 are carefully examined. It was shown that substituting of yttrium atoms by magnetic elements, i.e. Gd, Tb and Dy leads to (i) an increase of the Curie temperature of amorphous phase from 416 K (for Fe 82Nb 2B 14Y 2) to 450 K (for Fe 82Nb 2B 14Gd 2) and (ii) a decrease of magnetization in saturation (magnetic field 7 T) which can be explained by antiferromagnetic Fe–RE coupling resulting in a decrease of magnetic moment calculated per magnetic atom from 2.00 μ B for the Fe 82Nb 2B 14Y 2 alloy (Fe in amorphous phase) to 1.51 μ B for the Fe 82Nb 2B 14Tb 2 alloy. It was concluded that Tb and Dy alloying additions introduce a local magnetic anisotropy responsible for significant decrease of initial magnetic permeability (about 5 times in relation to Fe 82Nb 2B 14Y 2 or Fe 82Nb 2B 14Gd 2 alloy), increase of magnetic irreversibility effect measured at 2 K (about 10 times in relation to the same alloys) and appearing of the finger-print magnetic domain regions (not observed for the Fe 82Nb 2B 14Y 2 and Fe 82Nb 2B 14Gd 2 alloys).