The effect of heat treatment on the magnetic and mechanical properties of co-balt-based amorphous fast-quenched soft magnetic alloy is considered. It is shown that heat treatment affects the magnetic properties of the alloy. Analysis of the diffractogranis allows us to conclude that the structural state of the alloy corresponds to a mixture of a solid solution based on a-Co and borides Co3B and (Co. Fe)2B. The crystallization temperature of the alloy according to the results of differential thermal analysis is 833 K. It is concluded that the processes occurring in the temperature range of 373-473 K are the result of topological and compositional ordering. With an increase in the heating temperature above 473 K. the appearance of nanoscale crystalline phases is observed. The effect of heat treatment on the effective magnetic permeability in an alternating magnetic field has also been studied. The studied alloy is characterized by a sharp drop in permeability (4-5 times) with increasing frequency, which is consistent with the eddy current attenuation model. After heating to 573 K. there is a tendency to reincrease the level of magnetic characteristics, which is accompanied by intense embrittlement of the material. As a result of the experiments, annealing at 473 K was chosen as the optimal heat treatment mode. © 2021, Univelt Inc. All rights reserved.