Irradiation effects of gas cluster ion beam (GCIB) were studied on Co3Fe7 films as a novel etching process. Etching depth of Co3Fe7 increased with increasing the acceleration voltage (V
a) and the ionization electron voltage (V
e), however, there is a tradeoff between etching rate and the surface roughness. Because multiply charged GCIBs were formed at high V
e (200 V), the surface layer and interface became rough. When low V
e (50 V) was applied for ionization of Ar-GCIB, crystalline CoFe2O4 layer (10 nm thick) was formed by Ar-GCIB irradiations at room temperature. Oxidation was due to water vapors during GCIB irradiation, which will be eliminated in ultra high vacuum. It is expected that gentle etching of magnetic films is possible with Ar-GCIB ionized at low V
e.