Ribbons of rapidly solidified Ni-Mo-B alloy were produced by chill block melt spinning. Powders were manufactured from ribbons by a pulverizing process and then consolidated by extrusion after heating for 2 hrs at 1100℃. In order to improve the mechanical properties, and additional aging treatment was also performed. The microstructure and mechanical properties of the alloy, such as room and elevated temperature hardnesses, wear resistance, and impact strength, were evaluated. Mechanical properties of the alloy were correlated to the microstructure, in view of the application of the alloy to the high temperature wear resistance fields.