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In this work we report on the results of investigation of the magnetocaloric effect in Gd100-xYx (x = 0, 5, 10, 15) cold rolled ribbons. It is shown that the magnetocaloric effect exists within a wide temperature interval 258-295 K and is comparable with magnetocaloric effect observed in bulk samples of pure gadolinium. The value of the magnetocaloric effect in the rolled samples is reduced as compared with the bulk samples and strongly depends on the degree of the plastic deformation. Heat treatment procedures can restore the values of the magnetocaloric effect in the cold rolled ribbons up to initial ones. Thus, cold rolling is proposed to be a promising technique for producing thin forms of magnetocaloric materials for heat exchangers of magnetic cooling devices, modifying microstructure of the materials and related magnetic properties. [ABSTRACT FROM AUTHOR]