The most relevant aspects of magnetic amorphous microwires are collected in this chapter from production and processing methods to micromagnetic magnetization reversal processes, including selected technological applications finally paying particular attention to the actual search for novel microwire materials. After a first general review of the present state of the art in Section 1, the fabrication of amorphous and nanocrystalline microwires by rapid solidification techniques and subsequent processing is described in Section 2, including important characteristics such as mechanical stress distribution. Section 3 reviews the most interesting magnetic features of positive magnetostriction, Fe‐based microwires with bistable magnetic behavior such as: domain structure, magnetization reversal mechanism and its dynamics, magnetoelastic behavior, magnetostatic interactions in arrays of bistable microwires, and applications. Section 4 is devoted to the circular magnetization process and magnetoimpedance effect of nonmagnetostrictive microwires, the microwave properties, and their applications. Finally, Section 5 summarizes the latest results obtained in the search for novel microwires with new and/or optimized properties: nanocomposite and multilayer microwires.