• Quinary rare-earths based high-entropy (HE) amorphous alloy was obtained. • Microstructure, magnetic properties and magnetocaloric effect were studied. • Er 20 Ho 20 Gd 20 Ni 20 Co 20 HE ribbons show excellent magnetocaloric performances. Magnetic refrigeration (MR) by utilizing the magnetocaloric (MC) effect is recognized as one of the most potential promising solid state environmentally friendly and high efficiency alternative method to the well-used state-of-the-art gas compression cooling technique. In this work, a systematic investigation of quinary equi-atomic rare-earths (RE) based Er 20 Ho 20 Gd 20 Ni 20 Co 20 high-entropy (HE) amorphous alloy in terms of the microstructure, magnetic and magnetocaloric (MC) properties have been reported. The Er 20 Ho 20 Gd 20 Ni 20 Co 20 exhibits promising glass forming ability with an undercooled liquid region of 72 K. Excellent cryogenic MC performances can be found in wide temperature from ∼25 and ∼75 K, close to H 2 and N 2 liquefaction, respectively. Apart from the largest magnetic entropy change (-Δ S M ) reaches 17.84 J/(kg K) with 0-7 T magnetic field change, corresponding refrigerant capacity (RC) attains a giant value of 1030 J/kg. The promising cryogenic MC performances together with the unique HE amorphous characterizations make the quinary Er 20 Ho 20 Gd 20 Ni 20 Co 20 HE amorphous alloy attractive for cryogenic MR applications.