In this study, four alloys composed of highly pure elements (lead, zinc, tin and bismuth), named Pb–Zn50, Pb–Sn50, Sn–Zn50 and Sn–Bi50 were prepared by rapid solidification process (RSP) using melt-spun technique. The structural, mechanical properties (elastic and plastic deformations), and microhardness have been investigated and analyzed using X-ray diffraction, tensile test machine, and vickers microhardness respectively. According to results, the yield strength, ultimate tensile strength (UTS), toughness, and Vickers hardness (Hv) were improved due to the advantages of rapid solidification technology including elimination of grain boundary segregation, improvement in alloy homogeneity, refinement of grain size, formation of novel metastable crystalline, rises in the equilibrium solid solubility's of solute elements and reduction in the degree of order. This can be ascribed to reinforcement of Zn and Bi particles, refined β-Sn, Zn and Bi grains that could obstruct the dislocation slipping. In addition, the shielding performance of these alloys for gamma radiation were examined and analyzed utilizing WinXCom software over energy range 0.015–15 MeV. The alloys under study found to be good shielding materials against γ-ray relative to common shielding materials and newly studied materials. The results indicate that the Sn–Bi50 alloy has the highest values of μm, Zeff and Zeq ranging from 0.039 to 81.3 cm2/g, 60.41–73.83, and 64.02–70.793 respectively. While it has the smallest values of HVL (ranging from 8.73E-4 to 1.86 cm) which means that it is the best choice as a γ-ray shielding material. In aspects of neutron attenuation characteristics, the results also indicate that the Pb–Zn50 alloy has the highest value of ΣR (0.133 cm−1) amongst all other alloys, frequently used neutron shielding materials, and recently studied materials. Furthermore, proton (H+1) and alpha particles (He+2) projected range (PR) and mass stopping power (MSP) values have been calculated. It can be concluded that Zn–Pb alloy among the examined samples is superior in terms of shielding against proton and alpha particles. This paper provides a comprehensive examination of the use of lead and the development of new safety lead-free shielding materials in many applications including nuclear medicine.