Electromagnetic wave absorbing materials have been developed to reduce electromagnetic interference (EMI) for electronic devices in recent years. In this study, Fe-Si-B-Nb-Cu base amorphous strip was pulverized using a jet mill and an attritor and heat-treated to get flake-shaped nanocrystalline powders, and then the powders were mixed, cast and dried with dielectric $Al_{2}O_{3}$ powders and binders. As a result, the addition of $Al_{2}O_{3}$ powders improved the absorbing properties of the sheets noticeably compared with those of the sheets without dielectric materials. The sheet mixed with 2 wt% $Al_{2}O_{3}$ powder showed the best electromagnetic wave absorption, which was caused by the increase of the permittivity and the electric resistance due to the dielectric materials finely dispersed on the Fe-based powder.