It was difficult to measure the volume change of alloy at high temperature, especially for undercooled solidification. In this paper, a novel method is proposed to measure the volume change of high temperature melt by high-frequency induction combined with the high-speed camera. The changes of liquid and solid volume of binary Ni-B and ternary Fe-Ni-B alloy with temperature were studied. The influence of the undercooling of the primary transition and eutectic transition on the volume change before and after solidification is discussed. It is found that both the solid and liquid volumes of Ni-B and Fe-Ni-B alloys decrease with decreasing temperature. For the primary transition (dendritic phase forms), the larger the undercooling, the more serious the volume shrinkage. For eutectic transformation (eutectic forms), the volume shrinkage decreases with the increase of undercooling.