An　ultrafine　grained　FeCoV　alloy　was　fabricated　by　equal　channel　angular　pressing　(ECAP)　at　room　temperature　by　pressing　for　up　to　a　maximum　of　3　passes　using　route　A.　The　evolution　of　microstructure　of　FeCoV　alloy　after　ECAP　was　investigated　by　means　of　the　Optical　Microscopy　(OM)　and　the　Transmission　Electron　Microscopy　(TEM).　The　results　show　that　the　total　equivalent　true　strain　of　FeCoV　alloy　is　about　3.0　after　ECAP,　which　is　corresponding　to　rolling　reduction　of　∼90%.　After　one　pass　ECAP,　the　coarse　alpha　grain　with　a　grain　size　of　around　30　μm　changes　into　an　elongated　martensite　lath　having　an　average　width　of　0.35　μm,　the　length　of　the　lath　is　around　2.5　μm,　the　lath　structure　is　parallel　and　has　special　orientation.　With　the　increase　of　pressing　passes,　the　martensite　lath　is　farther　refined　and　transformed　into　the　equiaxed　grains　at　last.　Moreover,　the　quantity　of　alpha　phase　increased　along　with　the　increase　of　deformation　amount.