The present work deals with microstructure and mechanical properties of Mg–xGd–yNd (x = 10, 15; y = 2, 5) ternary alloys. Hardness, tensile, and compressive properties are measured on the as-cast alloys and the alloys after solid solution treatment (T4 state). The hardness, tensile yield stress (TYS), and ultimate tensile stress (UTS) are increased with increasing amount of alloying elements for both as-cast and T4 state. The elongation (El) of alloys is lower with higher Nd content. The compressive properties of all studied alloys are increased by T4 treatment. With increasing of alloy concentration, both compressive yield stress (CYS) and ultimate compressive stress (UCS) of alloys are enhanced, but the compressibility is decreased. Intermetallic compounds which appear along the grain boundary are reduced after T4 treatment for alloys with 2% Nd. However, large amount of intermetallic compounds with high Nd concentrations remains on the grain boundary of Mg–xGd–5Nd alloys.