High precision thermal dilatation measurements are used for the investigation of the structural relaxation and the crystallization process in amorphous Fe40Ni40B20 alloys obtained by the melt spinning technique. In the region of low temperature relaxation the thermal dilatation curves show an irreversible behaviour which is attributed to a change in the excess volume of the non-ideal glass. This process is quasi-continuous and results in about 0.15% length contraction for the quasi-isothermal annealing. In addition to this quasi-continuous densification two pronounced dilatation minima also occur which are probably due to compositional short range ordering before crystallization. The apparent activation energies (E) for the initial and further stages of crystallization are determined from the thermal dilatation curves obtained for the heating rates ranging from 1.5 to 160 K/min. Our E values of 3.1 and 3.6 eV (for the initial and further stages of crystallization, respectively) are in good agreement with those obtained independently from other measurements. The apparent contraction during crystallization is practically the same as that for low temperature relaxation.