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Fe-based bulk ferromagnetic glassy alloys were formed in (Fe0.75-XDyXB0.2Si0.O5)96 Nb 4 (x=0.04) system by the copper mold casting method. By the effect of Dy addition on glass forming ability, we investigated the fracture strength, magnetostriction as well as soft magnetic properties in FeDyBSiNb glassy alloys. In addition to increase the supercooled liquid region ,the addition of Dy is effective in approaching alloy to an eutectic point and also increasing the saturation magnetostriction.On the basis of it bulk glassy alloy ribbons were produced ,which exhibit large saturation magnetostraction and also the bulk glassy alloy system exhibits superhigh fracture strength combined with good soft magnetic properties.