Two Mo5SiB2 (T2)-based alloys with nominal compositions of Mo-12.5Si-25B and Mo-14Si-28B (molar fraction, %)were prepared in an arc-melting furnace, and their oxidation kinetics from 1 000 to 1 300 ℃ were studied. The microstructures of the alloys were characterized by X-ray diffractometry(XRD) and scanning electron microscopy(SEM) with energy dispersive spectroscopy (EDS). The oxide scales of both alloys oxidized at 1 200 ℃ for 10 min, 2 h and 100 h were investigated by surface XRD and cross-sectional SEM-EDS. The results show that the matrix of both alloys consists of T2. The dispersions of Mo-12.5Si-25B alloy are Mo and Mo3Si, and the dispersions of Mo-14Si-28B alloy are Mo5Si3 (T1) and MoB. The cyclic oxidation kinetics data exhibit initial rapid mass loss followed by slow mass loss. The mass loss of Mo-12.5Si-25B alloy is much faster than that of Mo-14Si-28B alloy at 1 200 and 1 300 ℃. For 10 min exposure, both alloys form irregular and porous thin scale. For 2 h exposure, Mo-12.5Si-25B alloy forms irregular thin scale and the scale contains large cracks, and Mo-14Si-28B alloy forms sound and continuous scale. For 100 h exposure, Mo-12.5Si-25B and Mo-14Si-28B alloys form sound and continuous scale about 50-75 μm and 40-45 μm in thickness, respectively. The better oxidation resistance of Mo-14Si-28B alloy is due to a sound and continuous B-SiO2 layer formation in the early stage of oxidation.