The impact of high-temperature annealing on the magnetic and microstructural properties of MnFePSi glass-coated microwires is studied. A comparative analysis is conducted to elucidate the influence of annealing conditions (temperature and time) on physical characteristics MnFePSi glass-coated microwires compared to the as-prepared sample. The results reveal a significant influence of the annealing process on MnFePSi-based glass-coated microwires. A notable observation is the increased coercivity (Hc) for the sample annealed at 973 K for 1 h, rising from 761 Oe (as-prepared) to 1200 Oe. However, increasing the annealing time to 2 h leads to a sharp reduction in the coercivity value to 253 Oe. Thermomagnetic curves [field-cooling (FC) and field-heating (FH)] of the annealed samples, measured at both low and high magnetic fields, exhibit perfect matching. This indicates that the relevant contribution of the internal stresses induced by glass coating in the magnetic behavior in both FC and FH protocols. We demonstrate the possibility for tailoring and modification of relevant magnetic phenomena such as metamagnetic phase transition, magnetic behavior, and the control of magnetic response (hardness/softness). These tailored properties pave the way for the exploitation of MnFePSi glass-coated microwire in a wide range of glass-coated microwire applications.