Effect of vanadium on the thermal and mechanical properties of the Zr₆₅Cu_17.5Ni₁₀Al_7.5 bulk metallic glass has been studied. The vanadium substitution for zirconium in the bulk metallic glass leads to the decrease of the glass forming ability in constant cooling rate; as well as co-precipitation of Zr₂Ni and Zr₂Cu crystalline phases in amorphous matrix. The size of the crystallites are about 20–50 nm in amorphous matrix and they act as a barrier against of rapid propagation of shear bands. In fact, the nanocrystalline phases in amorphous matrix cause the increase of the strain and the quasi-static compression strength about 58% and 20%, respectively.