We present results on structural relaxation in Fe-B glasses. Relaxation effects were studied through measurements of the Curie temperature (Tc) of the glasses annealed at different temperatures (Ta). We observe a monotonic increase in Tc with Ta in all alloys due to irreversible structural relaxation. This increase continues till the start of surface/ bulk crystallization. The observed decrease in Tc upon further annealing is attributed to the strain introduced in the partially glassy system. We see no evidence for reversible structural relaxation in Fe-B glasses.