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Structural, magnetic properties and magnetostriction studies of Sm(1-x)Nd(x)Fe(1.55) (0 <= x <= 0.56) alloys have been performed. X-ray diffraction analysis confirms the presence of single cubic Laves phase in Sm(1-x)Nd(x)Fe(1.55) alloys with 0 <= x <= 0.48. The lattice parameter of alloys increases linearly with increase in Nd content while the Curie temperature behaves in the opposite way. The alloy x=0.08 exhibits a giant magnetostriction value(lambda(parallel to)-lambda(perpendicular to)) of -2187 ppm at a magnetic field of 12 kOe due to the anisotropy compensation between Sm(3+) and Nd(3+) ions. (C) 2010 Elsevier B.V. All rights reserved.