Influence of quenching temperature and cooling speed on the structures and properties of cast Fe-B-C alloy containing more than 1.0%B and lower than 0.2%C was researched. The results showed that the structures of Fe-B-C cast alloy changed from a great of pearlite + a small of martensite a great of martensite + a small of pearlite martensite and the hardness increased with the increase of quenching cooling speed. In the condition of water cooling, higher or lower quenching temperatures were not advantageous to obtaining single martensite. Quenching at 950~1000oC, cast Fe-B-C alloy could obtain the compound structures of fine lath martensite. The hardness and impact toughness of cast Fe-B-C alloy excelled 55HRC and 15J/cm2 respectively.