Magnetization process of the Laves phase compound Hf (Fe1-xCox)2 is investigated under pulsed fields up to 40 T. A sharp collapse of the spontaneous moment is observed at xc = 0.65 where ferromagnetism vanishes. In the paramagnetic region xc ≤ x ≤ 0.75, itinerant electron metamagnetism is found. The results can be interpreted by the recent band calculation