A series of Fe-P-B and Fe-Si-B amorphous alloys with high Fe contents exceeding 90 wt.% was successfully prepared by combining flux treatment and melt-spinning technique. The effects of Fe content and the flux treatment on the thermal and magnetic properties of amorphous alloys were studied. The glass-forming ability and the thermal stability of amorphous ribbons can be improved by a flux treatment, revealing the effective removal of heterogeneous nucleation sites in the ribbons through the flux treatment. It was found that Fe-Si-B ribbons exhibit higher saturation magnetization levels than Fe-P-B ribbons.