The magnetostriction, damping capacity and mechanical properties of a Fe-Cr-Mo-Al alloy are studied and compared with binary Fe-Cr and Fe-Al alloys. Synchronous change in magnetostriction and damping in Fe-16Cr- 0.6Mo-0.6Al alloy: the maximum magnetostriction strain and damping capacity are obtained after annealing at 900 ◦C followed by air cooling. Frequency dependence of damping in subresonance range is analyzed and interpreted in terms of variations in relaxation time and stiffness of DMA.