The mechanical properties and degradation behavior of both as-cast and extruded Mg(100−7x)Zn6xYx alloys (x = 0.2, 0.4, 0.6, 0.8 at %) were systematically studied in this paper. The results indicated that with the increase in x value, the mechanical properties and corrosion resistance of the Mg(100−7x)Zn6xYx alloys were improved. The extruded Mg95.8Zn3.6Y0.6 alloy exhibited excellent mechanical ... [Show full abstract] properties, showing a tensile strength of 320 MPa, yield strength of 240 MPa, and elongation of 16%, which is much higher than that of commercially extruded AZ31 alloy. The weight loss experiment presented a higher degradation rate for the extruded Mg95.8Zn3.6Y0.6 alloy compared with the wrought AZ31 alloy, indicating a good bioactivity and biocompatibility. More detailed and long-term studies for evaluating and further controlling the degradation behavior of Mg–Zn–Y-based alloys remain to be performed.