A series of glass comprising of SiO2–MgO–B2O3–Y2O3–Al2O3 in different mole ratio has been synthesized. The crystallization kinetics of these glasses was investigated using various characterization techniques such as differential thermal analysis (DTA), thermo gravimetric analysis (TGA), X-ray diffraction (XRD), and scanning electron microscopy (SEM). Crystallization behavior of these glasses was markedly influenced by the addition of Y2O3 instead of Al2O3. Addition of Y2O3 increases the transition temperature, Tg, crystallization temperature, Tc and stability of the glasses. Also, it suppresses the formation of cordierite phase, which is very prominent and detrimental in MgO-based glasses. The results are discussed on the basis of the structural and chemical role of Y3+ and Al3+ ions in the present glasses.