The oxidation behavior of the HITPERM alloy series Fe 60 Co 18 Nb 6-x Zr x B 16-z Cu z (x = 0, 3, 6; z = 0, 1) was studied. After heating up to 1073 K, an oxide layer ~1 m thick with a two-layer structure (the outer enriched in Fe) can be identified previous to a sharp interface between the oxide layer and the alloy matrix, where no oxygen is detected. The alloys with Zr oxidize faster than the alloys without Zr. Magnetic properties of nanocrystalline samples annealed 20 h at 673 K in air and argon show no change. However, after 50 h at 773 K, the coercivity of the samples increases, the effect being more significant for the alloys without Zr than for those with Zr, independently of the gas environment during the annealing. No change was observed in the microstructure after annealing and, therefore, the magnetic hardening must be due to some changes in the residual amorphous matrix. Soft magnetic nanocrystalline alloys, in which crystallites of about 10 nm are embedded in a residual amorphous matrix, have been developed as excellent candidates for soft magnetic applications [1]. This microstructure, which yields an averaging out of the magnetocrystalline anisotropy [2], is responsible for the outstanding magnetic properties observed. At the end of the last decade, new compositions FeCoMBCu, the so-called HITPERM alloys [3], extended the applicability of nanocrystalline alloys up to higher temperatures, due to the increase of the Curie temperature of the residual amorphous phase. Although Cu addition is known to reduce the grain size in FINEMET and NANOPERM alloys through Cuclustering [1], Cu clusters do not form in Zr-containing HITPERM alloys [4]. However, Cu-clustering occurs and refines the microstructure of Nb-containing HITPERM alloys [5]. To check the real possibilities for high temperature technological applications of these materials the study of the compositional effects on the nanostructure stability [6] and the oxidation behavior of HITPERM-type alloys are key questions.In this work, the oxidation behavior in air and the effect of high temperature treatments in air and argon atmospheres on the microstructure stability of nanocrystalline Fe 60 Co 18 Nb 6-x Zr x B 16-z Cu z (x = 0, 3, 6; z = 0, 1) melt-spun ribbons (~ 5 mm wide and ~ 15-40 m thick) were studied. In the following the compositions will be denoted as Nb0 (x=0, z=0), Nb1 (x=0, z=1), NbZr1 (x=3, z=1) and Zr1 (x=6, z=1). The oxidation process was studied using a thermobalance (TG) Perkin-Elmer TGA7, in order to obtain the in-situ mass gain of the samples during the heat treatments. Scanning electron microscopy (SEM)