The　Fe-B　alloy　containing　chromium　and　nickel　was　prepared,　and　the　microstructure　and　erosion-corrosion　behavior　of　the　alloy　were　investigated　by　means　of　scanning　electron　microscopy,　energy　dispersive　X-ray　spectrometry,　X-ray　diffraction　analysis,　Leica　digital　image　analysis,　a　hardness　tester　and　an　erosion-corrosion　tester.　Cr28　white　cast　iron　was　used　for　comparison.　Results　show　that　the　microstructures　of　both　as-cast　and　heat-treated　Fe-B　alloys　consist　of　austenite　and　borocarbide.　The　nickel　and　chromium　elements　are　mainly　distributed　over　the　matrix　and　borocarbide,　respectively.　The　hardness　of　the　austenite　matrix　and　the　Rockwell　hardness　of　heat-treated　Fe-B　alloy　are　higher　than　those　of　as-cast　Fe-B　alloy.　In　the　erosion-corrosion　test　of　the　slurry,　the　erosion-corrosion　weight　loss　of　Fe-B　alloy　is　lower　than　that　of　Cr28　white　cast　iron,　indicating　the　Fe-B　alloy　displays　higher　erosion-corrosion　resistance.