Phase transformations in the Sm$_{2}$Co$_{16.81}$V$_{0.19}$, Sm$_{2}$Co$_{16.43}$V$_{0.57}$ and Sm$_{1.66}$Co$_{16.77}$V$_{0.57}$ alloys are investigated by means of the differential thermal and X-ray phase analyses during conventional and solid hydrogenation, disproportionation (HD) treatment under hydrogen pressure of 1.5–4.2 МPа and temperature up to 950°C. The slowdown of hydrogen-induced phase transformations due to partial substitution of cobalt for the vanadium is determined. The ferromagnetic phase with the Th$_{2}$Zn$_{17}$-type structure starts to disproportionate during conventional HD and disproportionates completely on SmH$_{2\pm x}$ and two polymorphic cobalt structures (ht-Co and rt-Co) during solid HD with 1 h treatment under hydrogen pressure of 3.0 MPa at 700°C.