Rapidly solidified (RS) binary Sn–5 wt.% Sb and ternary Sn–5 wt.% Sb– x wt.% Ag, x = 1, 3 and 5 solder alloys were prepared in form of ribbons using melt spinning technique (MS). X-ray diffractometer (XRD), scanning electron microscopy (SEM) attached with energy dispersive x-ray technique (EDX) and differential scanning calorimetry (DSC) were used to investigate the impacts of Ag contents on microstructures and properties of the binary Sn–5 wt.% Sb rapidly solidified alloy. XRD analysis confirmed the formation of an ultrafine microstructure of Ag3Sn intermetallic compound in addition to a supersaturated solid solution of Sn by Sb and Ag. Moreover, SEM and EDX analysis assigned the formation of SnSb intermetallic compound as well as the dissolution of Sb and Ag in β-Sn with maximum wt.% of 20.75 and 11.7 for Sn-5Sb and Sn-5Sb-5Ag ribbons, respectively. The melting point of the melt spun ribbons was lowered by 3.7 °C, 1.7 °C, 5.4 °C and 2.3 °C for the 0, 1, 3 and 5 Ag containing solder alloys as deduced by DSC. The rapidly solidified ribbons exhibit better Vickers hardness due to the microstructure refinements and the extension of solid solubilities of the alloying elements.