The oxidation behavior of NiAl-30.75Cr-3Mo-0.25Ho alloy from 1300 to 1500 K in air atmosphere was investigated. The results reveal that oxidation resistance of the alloy is improved by the addition of Ho. At 1500 K, the oxidation kinetic curve obeys the parabolic law (n≈0.5), whereas the oxidation kinetic curve of the tested alloy follows the cubic relations (n≈0.3～0.4) from 1300 to 1450 K. An activation energy of about 261 kJ·mol-1 was determined for the tested alloy. It is found that a continuous and compact Al2O3 layer has formed on the surface of NiAl-30.75Cr-3Mo-0.25Ho alloy after oxidation 100 h at various tested temperatures. A rich-Ho solution formed on the boundaries of Cr(Mo) phase. Doped little amount of Ho in NiAl-31Cr-3Mo alloy promotes the transformation from θ-Al2O3 phase to α-Al2O3 phase, and decreases the size of Al2O3 and the crack forming in the oxidation scale prolongs the spalling time of the film at high temperature. The volatilizing oxides of Cr, Mo and the reactive element effects (REEs) make the mass gain lower than that of pure NiAl.