Inelastic neutron scattering measurements have been performed on the ferrimagnet Dy₂Co₁₇ in order to investigate the low-energy part (between 2 and 15 meV) of the magnetic excitations. The results are interpreted in terms of Heisenberg exchange and anisotropy parameters in a model Hamiltonian using linear spin-wave theory. The exchange and anisotropy parameters resulting from the authors' analysis are compared with the parameters derived from high-field magnetisation data measured earlier.