Applying a composition design method of “element substitution” and based on the Slater-Pauling curve, multi-component amorphous alloy ribbons with compositions of Fe69Co8Nb7-xVxB15Cu1 (x=0, 2, 5, 7, at%) were prepared by a single roller melt-spinning method. The glass forming ability, thermal stability and soft magnetic property were investigated by XRD, TEM, DSC, PPMS and B-H loop tracer. The results show that increasing V content can reduce glass forming ability, thermal stability and coercivity, but increase saturation magnetic flux density and Curie temperature of amorphous phase. The widest heat treatment temperature range of 225.9 oC appears in these amorphous alloys with V content of x=2. The desirable soft magnetic property is obtained when x=7, with saturation magnetic flux density of 0.96 T, coercivity of only 8.95 A/m, and Curie temperature up to 349.42 oC.