This paper describes the efficient preparation of an Mg2Ni alloy for hydrogen storage via high-energy ball milling mechanical alloying for 2 h. The degree of alloy amorphisation increases with increasing ball-milling time. Ball milling for 4 h affords partially amorphous alloys exhibiting the best hydrogen storage performance. Partial substitution of Ni with Cr and Mn improves the hydrogen absorption/desorption thermodynamics, kinetics and cycling performance of the alloy. Specifically, partial Mn substitution improves the cycling performance and reduces the activation energy of the hydrogen desorption reaction, effectively improving the hydrogen desorption kinetic performance. Mg2Ni0.8Mn0.2 shows the best cycling and hydrogen absorption/desorption kinetic performances. Partial Cr substitution reduces the entropy and enthalpy changes of the hydrogen absorption/desorption reaction and effectively reduces the temperature of the initial hydrogen absorption/desorption reaction. In particular, Mg2Ni0.9Cr0.1 shows the best thermodynamic performance.