The structural changes and mechanical properties of a Zr 63 Cu 22 Fe 5 Al 10 bulk metallic glass (BMG), and a Zr 63 Cu 27 Al 10 one made for comparison, were studied on annealing below the crystallization temperature. The phase composition of the samples was studied by conventional X-ray diffractometry and high-resolution transmission electron microscopy including the atomic-scale elemental mapping. The samples were mechanically tested in compression. The Zr 63 Cu 22 Fe 5 Al 10 bulk metallic glass shows a high strength and good deformability at room temperature both in the as-cast state and after prolonged structural relaxation below the crystallization temperature. The reasons for such behavior are discussed in the present work.