Abstract We have discovered a new glass forming region (GFR) defined by melt-spinning at a speed of 30 m/s in a ternary Fe–Fe2B–Fe4B4Y eutectic in the Fe–B–Y alloy system. This GFR is remarkably wide, within the compositional range 19–40 at.% B, 3 to ∼10 at.% Y and 76–50 at.% Fe, with the best glass former being Fe71.2B24Y4.8 for a 1 mm fully amorphous rod. The effect of Y content on the glass forming ability (GFA) is perhaps primarily due to the characteristic of the ternary triangle, and Y in the case of Fe–B–Y system should be treated as a base element.