In this work, we investigated the influence of phosphorus and magnetic anneal on the soft magnetic properties of electrodeposited FeMnP alloy films prepared by changing sodium hypophosphite concentrations. X-ray diffraction radiation patterns showed an amorphous structure of electrodeposited alloy films. The saturation magnetization and coercivity value decreased from 586 emu/cc to 346 emu/cc, and 52 Oe to 18 Oe, with the P content increased, respectively. The absorption resonance peak became broad as the P content increased, and the natural resonance frequency decreased from 1.8 GHz to 0.6 GHz, with the P content increasing. Magnetic annealing of samples reduced the magnetic damping, and natural resonance frequency increased by about 1.8 GHz and 3.5 GHz for the sample with lower and higher P content. The film structure with lower P content changed at 300˚C, while the structure remains unchanged for the films with higher P content. Thus, the crystallization temperature could depend on the P content in the film. FeMnP alloy films could be used in high-frequency devices.