The as-cast Mg-Y-Zr-xNd alloys with different Nd contents were prepared, and the effects of Nd content on microstructure, mechanical properties and electromagnetic interference (EMI)shielding properties were investigated.The results showed that the grain size was refined from 70.1 to 42.9 μm, discontinuous bone-shaped β phases formed mostly in the triple junction of grain boundaries when the content of Nd increased to 2.63 wt.%. The mechanical properties and EMI shielding capacity were both enhanced significantly by adding Nd element. The alloy with 2.63 wt.% Nd had a good combination of mechanical properties and EMI properties. T6 heat treatment was able to further improve the EMI shielding effectiveness. The above-mentioned observations are analyzed in terms of microstructural variation due to the Nd addition.