The chapter considers autowaves that were observed in the thin near-electrode layer of concentrated magnetic fluid. Autowave process is a unique object for the study of self-organization. We observed pacemakers (leading centers), reverberators (spiral waves), and wave diffraction. A mechanism for the appearance of an autowave process has been developed; its mathematical model has been proposed and realized by means of computer simulation. As a basic method of observation, we used electrically controlled interference. This method watches the changes in the spectrum of reflected light from a two-layer structure with variable thickness: "conductive ITO coating-a layer of concentrated magnetic fluid" in an electric field.