The microstructure and hydrogen absorption and desorption properties of (V30Ti35Cr25Fe10)97.5Si2.5 alloy consisting of 75% BCC phase and 25% C14 Laves phase were investigated by X-ray, SEM and PCT measurement in this paper. The lattice parameters of BCC phase and Laves phase are 0.3021 nm (a), as well as 0.4920 nm (a) and 0.7996 nm (c), respectively. The alloy shows a good activation performance with a saturated hydrogen absorption amount up to 2.98 wt% within 5 min, and reacts with hydrogen immediately at room temperature duo to the large amount of Laves phase. The capacity of (V30Ti35Cr25Fe10)97.5Si2.5 at a given pressure agrees with the one calculated by the linear combination of its constituent phase.