The quenching rate, which is dependent on the surface velocity (Vs) of Cu wheel during melt spinning, has significant influence on the formation of nanocomposite structure in the Fe52Pt32B18 melt-spun ribbons. The L10-FePt∕Fe2B hard magnetic nanocomposite structure was formed at Vs=20–37m∕s, while the soft magnetic fcc-FePt+amorphous phases were formed at Vs=40–50m∕s. The ribbons melt spun at Vs=37m∕s exhibit in-plane coercivity (Hci)=760kA∕m, remanence (Br)=0.71T, and energy product (BH)max=93.4kJ∕m3. The Br=0.74–0.77T, Hci=681–718kA∕m, and (BH)max=101–108kJ∕m3 were obtained for the ribbons melt spun at Vs=50m∕s and annealed at 748–773K for 900s. The improvement in hard magnetic properties is due to the formation of more finer and homogeneous nanocomposite structure, which results in the enhancement in exchange coupling among the nanosized hard L10-FePt and soft Fe2B magnetic phases.