FexCo1-x alloys were prepared by low temperature hydrothermal method. The influence of Fe content on static magnetic and microwave absorbing properties was studied. XRD results show that FexCo1-x alloys are single-phased body-centered cubic (BCC) structure for both 70% and 80% Fe content. The lattice constant of the alloys increases with increasing Fe content. The coercivity decreases with the increase of Fe content. The composites with high resistivity were prepared by homogeneously mixing FexCo1-x alloy nanoparticles and paraffin wax, and their microwave absorption properties were studied.