The nanocrystallization behaviour of Zr70Cu20Ni10 metallic glass during isothermal annealing is studied by employing a Monte Carlo simulation incorporating with a modified Ising model and a Q-state Potts model. Based on the simulated microstructure and differential scanning calorimetry curves, we find that the low crystal-amorphous interface energy of Ni plays an important role in the nanocrystallization of primary Zr2Ni. It is found that when T〈T1max (where T1max is the temperature with maximum nucleation rate), the increase of temperature results in a larger growth rate and a much finer mierostrueture for the primary Zr2Ni, which accords with the microstructure evolution in "flash annealing". Finally, the Zr2Ni/Zr2Cu interface energy σG contributes to the pinning effect of the primary nano-sized Zr2Ni grains in the later formed normal Zr2Cu grains.