Mechanical properties and microstructures of the Ni-AI-Fe and Ni-AI-Fe-(B, Zr) alloys which containing $10{sim}30at$.%Fe, 0.1at.%B and/or 0.1at.%Zr have been investigated. The experimental results showed that the microstructures of Ni25Al were changed from a single phase ${gamma}$ to dual phase ${gamma}$ and ${eta}$ by addition of 27at.%Fe. Ni45Al, however, kept the single ${eta}$ phase even though Fe was added upto 30at.%. The hardness of Ni25Al were increased from $H_RB$ 70 to $H_RC$ 39 by addition of 27at.%Fe. In the case of Ni45Al which have $H_RC$ 37, the hardness was decreased by lOat.%Fe addition, but increased with 30at.%Fe. The yield strength and ultimate compressive strength in the compressive test have showed a similar trend with the hardness change. The strain to fracture was 14% at maximum and achieved in Ni25Al-27at.%Fe and Ni25Al-27at.%Fe-0.1 at.%B alloys. The Ni45Al showed a relatively low strain to fracture as 4%. The impact absorption energy of Ni25Al increased from 0.74 kg-m to 1.81 kg-m by addition of 27at.%Fe. In case of Ni45Al, the addition of lOat.%Fe and lOat.%Fe with small amounts of Band Zr did not change significantly the impact absorption energy of 0.60 kg-m, whereas the addition of 30at.%Fe with small amounts of B and Zr increased it slightly. In fracture tests, both of two basic materials showed the same intergranular fracture but by adding Fe it changed to the cleavage fracture mode or co-existing of cleavage and intergranular fractures.