The present work represents phase transformations observed upon cyclic loading of Zr62.5Fe5Cu22.5Al10bulk metallic glassy samples within reversible deformation regime prior to plastic deformation. The structure of the samples was studied by X-ray diffraction and transmission electron microscopy including high-resolution imaging and analysis of selected-area electron diffraction and nanobeam diffraction patterns. Thermal properties of the samples were characterized by differential scanning calorimetry. It is found that kinetically frozen anelastic deformation accumulates at room temperature and causes crystallization of metallic glassy phase forming precursors of metastable crystalline FCC Zr-based phase stabilized by the alloying elements.