The work is primarily concerned with the development of nanocrystalline Nd-Fe-B, based permanent magnet with high Curie temperature. An alloy of composition Fe81Nd7Al2B10 has been prepared using vacuum arc furnace and subjected to using Melt-Spinning process for preparation of amorphous flakes. Differential scanning calorimetry (DSC) has been performed to determine the crystallization temperature and activation energy of the melt spun amorphous ribbons. Subsequently the melt spun ribbon was subjected to annealing at below and above the crystallization temperatures to identify effect of Al on the Curie temperature. It was noteworthy for the effect of alloying Al above crystallization temperature. The Curie temperature increases to by almost 1.3 times with increase in annealing temperature. © (2012) Trans Tech Publications, Switzerland.