The Laves phase reinforced Nb matrix composite materials with V and Fe additions were prepared by mechanical alloying and reactive hot pressing. Microstructures and properties were investigated of Nb/NbCr2 alloys prepared from 20 h mechanically alloyed powders of Nb/NbCr2-4.0V and Nb/NbCr2-4.0Fe stoichiometric compositions by hot pressing at 1250 °C for 30 min. The results indicate that the fine dispersed ternary Laves phase Nb(Cr,V)2 and Nb(Cr, Fe)2 are synthesized in the Nb matrix by the in-situ reaction synthesis technique during hot pressing. In the ternary Laves phase V and Fe atoms preferentially occupy the Cr sites. The prepared Laves phase reinforced Nb matrix alloys with fine and uniform microstructures are nearly full-dense, and their grain sizes are less than 500 nm. The Nb/NbCr2-4.0V and Nb/NbCr2-4.0Fe alloys have fracture toughnesses of 5.3 and 6.3 MPa·m1/2 respectively. Furthermore, the Nb/NbCr2-4.0Fe alloy has a yield strength of 2094 MPa, compressive strength of 2256 MPa and plastic strain of 6.03%