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The crystallization behaviour in Fe44.5Co44.5Zr7B4 alloy is investigated by DSC‐calorimetry, transmission electron microscopy and magnetization measurements. Two distinct crystallization steps, which correspond to the formation of α′‐FeCo phase (Tx1 = 774 K) and the crystallization of the remaining amorphous matrix (Tx2 = 957 K) are observed. Typical size of the nanograins in the samples that show advanced degree of crystallization is about 25 nm. The measurements of the hysteresis loops are performed in the temperature range 300 K–700 K. The specimens in the optimum heat treated stage exhibit fairly low values of coercive field (Hc < 35 Am–1) in whole temperature range investigated. These values of coercive field are lower than those reported for the original HITPERM alloys.

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