In the present work a study of the influence of structural state on magnetic hysteresis properties of (Nd,Ho)2(Fe0.8Co0.2)14B compound was carried out. Starting alloy was prepared by induction melting in an Ar atmosphere. Nd-Ho-Fe-Co-B alloys with a nanograin structure were obtained by severe plastic deformation (SPD). Electron microscopy and X-ray analysis were used for the structural investigation. The magnetization measurements were performed using a SQUID magnetometer. It is shown that the relatively high values of coercive force are observed in case of achieved nanograin structure in (Nd,Ho)2(Fe0.8Co0.2)14B. The effect of structural state on hysteresis properties of Y2(Fe0.8Co0.2)14B is also investigated.