Abstract Magnetic Co-Fe-Si-B amorphous nanoparticles were successfully synthesized by chemical reduction method. ICP, XRD, DSC, and TEM were used to investigate the composition, structure and morphology of Co-Fe-Si-B samples. The results show that the Co-Fe-Si-B samples are amorphous, which consist of nearly spherical nanoparticles with an average particle size about 23 nm. VSM results manifest that the saturation magnetization (Ms) of Co-Fe-Si-B samples ranges from 46.37 to 62.89 emu/g. Two kinds of ferrofluids (FFs) were prepared by dispersing Co-Fe-Si-B amorphous nanoparticles and CoFe 2 O 4 nanoparticles in kerosene and silicone oil, respectively. The magnetic properties, stability and viscosity of the FFs were investigated. The FFs with Co-Fe-Si-B samples have a higher Ms and lower coercivity (Hc) than FFs with CoFe 2 O 4 sample. Under magnetic field, the silicone oil-based FFs exhibit high stability. The viscosity of FFs under different applied magnetic fields was measured by a rotational viscometer, indicating that FFs with Co-Fe-Si-B particles present relative strong response to an external magnetic field. The metal-boride amorphous alloy nanoparticles have potential applications in the preparation of magnetic fluids with good stability and good magnetoviscous properties.