In this study, V-7.4Zr-7.4Ti-7.4Ni alloy was prepared from high-pure Zr, V, Ti and Ni metal powders. The microstructure of alloy was investigated by using optical metallograph, scanning electron microscope (SEM) and XRD. The hydrogen desorbing PCT curves have been obtained at different temperatures. The thermodynamic parameters were calculated according to the chemical reaction equilibrium equations. It is found that the microstructure of alloy is consisted of two phases, a main phase of V based solid solution phase, and the second phase of Laves phase. The alloy has remarkable hydrogen storage properties at room temperature and 353 K, the maximum hydrogen desorbing capacities are 3.11 wt% and 2.31 wt%, respectively. From the thermodynamics study it is found that the V based solid solution phase is the primitive phase for desorbing the hydrogen and has great influence on the formation of wide flat pressure plateaus on the PCT curve; the equilibrium temperature of the hydrogen desorbing reaction was calculated to be 358.4 K