Seven arc-melted and then annealed CoCrFeNiNbx (x = 0.3–0.6) alloys are experimentally and thermodynamically investigated in the present work. All the as-cast and 1000 °C annealed CoCrFeNiNbx alloys are composed of face-centered cubic (FCC) and C14 Laves phases. Nb content in the C14 phase stays at around 24.5 at.%, and the Liquid → FCC + C14 eutectic reaction occurred at around 10.8 at.% Nb in a narrow temperature range. It is found that the microstructure in the CoCrFeNiNbx alloys is dramatically affected by the cooling rate and annealing treatment. The C14 phase easily spheroidizes and coarsens under high temperature, which indicates that the interface energy between FCC and C14 is very large. Moreover, the solubility of Nb in the FCC phase decreases with decreasing temperature. After annealing at 800 °C, a needle-like nano Mg3Cd-type τ phase precipitates from the pro-eutectic FCC phase and increases alloy hardness for ~100 HV. This should be a method to strengthen alloys.