This work investigated the effects of different Y additions (0, 1.5, 3.0 and 4.5 wt.%) on the microstructural evolution and mechanical performance of cast Mg-3Nd-0.2Zn-0.5Zr alloy. The results show that as the Y content increases, the key secondary phases in as-cast alloys change from the Mg₁₂Nd type to the Mg₂₄Y₅ type. Meanwhile, the number density of Zn-Zr particles in the grains of as-quenched alloys gradually decreases. HAADF-STEM observations of peak-aged samples reveal that element Y is greatly enriched in the globular β? precipitates, leading to a significantly increased volume fraction and promoted precipitation kinetics of β? precipitates, resulting in enhanced strength of the alloy. Tensile tests reveal that, with the addition of 4.5 wt.% Y, the yield strength of the base alloy is substantially increased by 88 and 61 MPa after being aged at 200 and 225 °C under peak-aged conditions, respectively.