Self-assembled monolayers (SAMs) are nowadays broadly used as surface protectors or modifiers and play a key role in many technological applications. This has motivated the study of their formation in all kind of materials; however, and despite the current interest in molecular spintronics, the study of SAMs on ferromagnetic surfaces remains almost unexplored. In this paper, we report for the first time a methodology for the formation of SAMs of n-alkylphosphonic acids on permalloy in ambient conditions. The formed monolayers have been fully characterized by means of contact angle measurements, atomic force microscopy, X-ray photoelectron spectroscopy, matrix assisted laser desorption ionization time-of-flight mass spectrometry, infrared reflection absorption spectroscopy, and X-ray reflectometry. Additionally, the magnetic stability of the modified permalloy after the solution process required for the SAM formation has been confirmed by magneto-optical Kerr effect magnetometry. Moreover, by means of microcontact printing lithography, very accurate SAM patterns have been transferred onto permalloy surfaces and used as resist mask in a chemical etching process giving rise to submicrometric permalloy surface patterns with potential interest in nanomagnetism, spintronics, and storage technologies.