Ni-base superalloys are approaching the melting point as their fundamental limitation. For high-temperature components one possibility aiming at a further increase of efficiency, e.g. of jet turbines, is the use of refractory metals. Mo as base material is suitable for operating temperatures far beyond 1200°C. As a consequence of the formation of volatile Mo-oxides, it exhibits no intrinsic oxidation resistance when exceeding 700°C. Mo-Si-B alloys have melting points around 2000°C and retain good mechanical properties and oxidation resistance at very high temperatures. In air, the three-phase Mo-Si-B alloy dealt with in this paper shows excellent oxidation behaviour between 900°C-1300°C as a consequence of the formation of a protective silica scale. Below 900°C, alloys of this class suffer from catastrophic oxidation, leading to an evaporation of Mo-oxide and giving rise to a linear rate law of the weight loss. A protective oxide layer is not formed as a consequence of simultaneous and competitive Mo- and Si-oxide formation. Several approaches are possible to improve the oxidation performance of Mo-Si-B alloys, especially in this moderate temperature range. These include classical alloying, e.g. with Cr aiming for protective Cr-oxide scales, addition of small amounts of reactive elements for microstructure-refinement as well as selective oxidation of silica in oxygen-deficient atmospheres prior to operation in air. The results presented show promising opportunities and indicate that an oxidation protection from room temperature up to 1300°C requires a combination of the suggested approaches.