Rapid solidified Au-Ag-Ge alloy was prepared by the melt spinning method,microstructure and melting behavior of the rapid solidified alloy was investigated by means of SEM, TEM and DSC. DSC results show that liquid temperature of the rapid solidified alloy is about 3~4°C lower than that of the alloy ingot, melting interval is also smaller. Minimum size of 40nm nanocrystalline has formed when the cooling rate is 1.293×106K/sec. Metastable supersaturated precipitated Ge-rich phases have been found at the grain boundaries, a structure mutation was found in the thickness direction of the rapid solidified alloy. Meanwhile, due to the stabilization transition of the supersaturated precipitated phase of the rapid solidified alloy, an exothermic peak has formed in the DSC curve, temperature of the exothermic peak becomes much lower when the cooling rate increases.