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• A new Mg–Zn–Y–Nd–Zr alloy designed for stent applications was developed. • The as-cast alloy exhibits a fracture elongation up to 35%. • The single secondary phase precipitated in alloy was indicated as T phase. • {10 1 - 2} extension twins were formed at the initial stage of plastic deformation. • Non-basal {1 1 - 01} slips were observed at the later stage of plastic deformation. A new Mg–2Zn–0.2Y–0.5Nd–0.4 Zr (wt%) alloy designed specially for stent applications has been developed. The as-cast alloy is featured with equiaxed grains with a mean size of about 40 μm and a small amount of second phase (T phase) distributed discontinuously either at the grain boundaries or inside the grains. This alloy exhibits a tensile elongation of up to 35%, which is much larger than that of most reported other as-cast Mg alloys. The tensile deformation mechanisms have also been investigated. The results show that, besides basal slip, {10 1 - 2} extension twining and non-basal pyramidal slips can also be observed at initial stage and later stage during tensile deformation, respectively, which are responsible for the good room-temperature ductility. [ABSTRACT FROM AUTHOR]