(Mn1-xFex)5Sn3 (x=0.1-0.5) alloys were prepared by powder metallurgy method with magnetic field pressing and sintering. The crystal structure, Curie temperature and magnetic entropy change of the alloys were studied. XRD patterns reveal that all samples of this system maintain a hexagonal InNi2-type structure with space group P63/mmc. The lattice parameter and cell volumes of the (Mn1-xFex)5Sn3 alloys decrease with x increasing by calculation, while the Curie temperature of these alloys increases almost linearly and is tunable continually from 244 K to 391 K by M-T curves. The Curie temperature of (Mn0.70Fe0.30)5Sn3 is about 295 K close to room temperature, and the maximum magnetic entropy change is 0.87 (kg·K)-1 with a field change from 0 to 1.5 T. The curve of magnetic entropy change of (Mn0.70Fe0.30)5Sn3 is flat in a wide temperature range. It is indicated that the (Mn1-xFex)5Sn3 alloy is a suitable candidate with low cost for Ericsson cycle.