We have studied the superconductivity of rapidly quenched $YPd_2B_2C$ ribbons. The superconductivity in bulk $YPd_2B_2C$ is completely suppressed by annealing as-cast ingots at hihger temperature, suggesting that the superconducting phase is metastable. The rapidly quenched sample, in the as-quenched state, shows the superconducting transition temperature of about 21 K. Form our magnetic data, the value for the upper critical field $H_c2$ (0) is estimated to be 10 T. The critical current density and the expected specific heat discontinuity $({Delta}C/{gamma}{T_c})$ were obtained to be about$10^8A/m^2$ at 10 Oe and 1.55, respectively.