The Gd70Y30−xFex (x = 0, 10 and 20) ribbon alloys were prepared by single-roller melt spinning method. The results show that all samples are single phase and crystallize with a hexagonal structure. The magnetic entropy change at 5 T are 8.8, 8.1 and 5.7 J·kg−1·K−1 near the Curie temperature of 277 K, 283 K and 291 K for Gd70Y30−xFex alloys with x = 0, 10 and 20, respectively. Furthermore, the values of full width at half maximum and refrigeration capacity under applied field 5 T increase by 55% and 6% compared with pure Gd respectively. The obtained spontaneous magnetization and adiabatic temperature (Δ2T) are 238, 241, 197 emu/g and 4.0, 3.5, 2.4 K for samples with x = 0, 10, and 20, respectively. The Arrott plots and universal curve are employed to investigate the magnetic phase transition, showing all samples undergo a second order ferro-paramagnetic phase transition. The results indicate that Gd70Y30−xFex alloys with large magnetocaloric effect and wide temperature span are a good candidate for room temperature magnetic refrigeration.