The influence of annealing conditions on the crystallization and wear properties of bulk amorphous Zr41.2Ti13.8Cu12.5Ni10Be22.5 (BAZ) alloys was investigated. Nanocrystalline phases were precipitated from the bulk amorphous alloy matrix after an annealing treatment at both 670 K and at 780 K. The Vickers hardness (Hv) increased with the volume fraction (Vf) of the nanocrystalline phases with increasing annealing temperature. The friction coefficient and the wear loss showed a somewhat different trend with the volume fraction of the nanocrystalline phases. The friction coefficient had a minimum value of 0.46 at 670 K and a maximum value of 0.96 at 780 K. The wear loss of the BAZ showed a very similar trend of friction coefficient. The improved wear and hardness properties can be attributed to the formation of nanocrystalline precipitates in the Zr-based amorphous matrix.