The effect of continuous heating and isothermal heat treatments on ductile Cu60Zr20Ti20 amorphous ribbons was monitored by differential scanning calorimetry, x-ray diffraction, synchrotron radiation transmission, and high-resolution transmission electron microscopy. Upon continuous heating, the alloy exhibited a glass transition, followed by a supercooled liquid region and two exothermic crystallization stages. Decomposition of the amorphous phase was also observed. The first crystallization stage resulted in the formation of a nanocomposite structure with hexagonal Cu51Zr14 particles embedded in the amorphous matrix, while in the second crystallization stage hexagonal Cu 2TiZr-like phase was precipitated. The released enthalpies were 19 J/g and 30 J/g for each crystallization stage. Crystallization kinetics was studied by the classical nucleation theory. Deviations from the Johnson-Mehl-Avrami-Kolmogorov theory may be explained by the contribution of the decomposition of the amorphous matrix.