Terbium-161 (161Tb) is a promising therapeutic radionuclide that has gained significant attention in the field of nuclear medicine in recent years. 161Tb has several favorable characteristics that make it a valuable candidate for targeted radionuclide therapy. The production of No-carrier-added 161Tb was carried out by the neutron activation of natural gadolinium target in the Egyptian Second Research Reactor (ETRR-2) at a thermal neutron flux position of 1.8 × 1014 n cm-2 s-1. The radioactivities of 161Tb as well as coproduced Gd radioimpurities were computed theoretically by the MCNPX2.7.0 code and verified by actual measurements, where accepted discrepancies were obtained. The purification of 161Tb from irradiated Gd target was developed by Chelex-100 resin. The elution performance was studied using different eluents, and 0.1 M HNO3 was found to be the best medium to obtain a high separation efficiency of more than 92% in a short time. The eluted 161Tb was of high chemical, radiochemical, and radionuclidic purities, indicating its potential for effective application in radiopharmaceutical preparation.