The Fe80P20 amorphous alloy and Fe80P20 amorphous alloy embedded with 1 and 2 wt % carbon nanotubes were fabricated by rapid solidification process and their non-isothermal differential scanning calorimetry (DSC) curves, hysteresis loops at room temperature and low-temperature electric resistivities and ac magnetic susceptibilities were measured respectively. The results indicate that the addition of nanotubes greatly enhance the thermal stability and the electric resistivity, but decrease the saturation magnetic moment, and Fe80P20 glass-2wt% nanotubes composite has an antiferromagnetic transition at about 180 k.