Unidirectional solidification of pseudoeutectic alloys from the (Fe, Co, Ni)–NbC system resulted in the formation of a (Fe, Co, Ni) solid solution matrix reinforced by aligned NbC fibers. Room-temperature magnetic hysteresis loop and high-temperature saturation magnetization measurements were performed on controlled eutectic samples whose matrix compositions approximated those of well-known magnetic alloys. The most significant of these materials appears to be the (Fe, 50 wt% Co)–NbC eutectic which should combine useful high-temperature strength in the direction of the fibrous carbide with superior soft magnetic properties.