Microstructure as well as magnetic, thermal and magnetocaloric properties of the mechanically alloyed Fe72Nb8B20 powders have been investigated by means of Mössbauer spectrometry, differential scanning calorimetry (DSC), and magnetic measurements. The Mössbauer spectrometry results showed the formation of nanostructured Fe(B) and Fe(Nb) solid solutions, Fe2B boride, and an amorphous phase. The endothermic and exothermic peaks that are observed in the DSC curves might be related to the Curie temperature, and the crystallization of the amorphous phase, respectively. The critical exponent values around the magnetic phase transition of the amorphous phase (TC = 480 K), are deduced from the modified Arrott plots, Kouvel-Fisher curves and critical isotherm examination. The calculated values (β = 0.457 ± 0.012, γ = 0.863 ± 0.136 and δ = 3.090 ± 0.004) are near to those of the mean field model, revealing a dominating role of magnetic order arising due to long-range ferromagnetic interactions, as the critical exponents are mean-field-like. The maximum entropy change and the refrigerant capacity values are 1.45 J/kg·K and 239 J/kg, respectively, under a magnetic field of 5 T
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