In order to decrease the price of NiMH batteries, Cu, Cr, Zn and Fe are added on the basis of MlNi355Co075 Mn04Al03, and the lowcobalt hydrogen storage alloys are obtained. And their discharge capacity, cycle stability and their microstructure are determined and analyzed. The results show that lowCo hydrogen storage alloys with high discharge capacity and good cycle stability can be obtained by substituting Cu, Cr, Zn and Fe for Co, and the structure of their phase are same.