The rapidly solidified structures of Fe-C binary alloy containing 3.8-4.5 wt%C made by using the melt spinner and gas atomizer was analyzed and how the solidified structure of it, of which consolidation temperature is expected to be 700-1000 ˚C, changed was considered. As a result of experiment, the solidified structure consist of the eutectic structure of austenite and cementite, the size of which was within sevaral ㎛, and at the last solidified part, the austenite dendrite was observed. In the solidified structures by using the melt spinner, any meta-stable phase was not observed, but in the powder under the 25㎛ solidified by using the gas atomizer, there much observed meta-stable ε-phase. The microhardness of it showed the initial value of 550-900MVH(㎏/㎟) and even though after annealing. The high value of 700-800MVH(㎏/㎟) was also measured. So, it is possible that these metarials have practical use.