The effect of the microstructure for multicomponent ZrMn0.9-xVxNi1.1 (x = 0.1-0.8) hydride electrode alloys on their hydrogen absorbing capacity, activation and high rate discharge capacity was investigated. The electrochemical properties and microstructure changed with the alloys compositions. The microstructure were determined by the combination of transmission electron microscopy (TEM) and X-ray Rietveld analysis. Hexagonal C14 type, cubic C15 type Laves phase and tetragonal body centered Zr9Ni11 coexisted in the alloys of given compositions. The metastable Zr9Ni11 phase was stabilized at room temperature as long range ordered state along [100] and [010] directions. Substructure of each phase and the orientation relations among the existing phases were investigated in detail. Stacking faults in the C15 Laves phase and precipitation of Zr-Ni binaries considerably enhanced the activation and high rate discharge capacity of Laves phase.