(Nd1-xCex)2Fe14B ribbons were prepared by arc melting followed by melt spinning. It is found that the ribbons are mainly composed of the main phase Nd2Fe14B and α-Fe phase. The optimum magnetic properties can be obtained using the wheel velocity of 30 m/s. With increasing the Ce content, the coercivity reduces from 800 kA/m when x=0 to 413 kA/m when x=0.5. However, the coercivity is anomalously high when the 20% Nd is replaced by Ce. It is attributed to the phase segregation induced by mixed valence state of Ce. No reduction in the maximum energy product is demonstrated when x=0.25. It is suggested that Ce has a great potential application in the permanent magnetic materials.