Magnetic damping is of critical importance for devices that seek to exploit the electronic spin degree of freedom, as damping strongly a ects the energy required and speed at which a device can operate. However, theory has struggled to quantitatively predict the damping, even in common ferromagnetic materials 1-3 . This presents a challenge for a broad range of applications in spintronics 4 and spin-orbitronics that depend on materials and structures with ultra-low damping 5,6 . It is believed that achieving ultra-low damping in metallic ferromagnets is limited by the scattering of magnons by the conduction electrons. However, we report on a binary alloy of cobalt and iron that overcomes this obstacle and exhibits a damping parameter approaching 10 −4 , which is comparable to values reported only for ferrimagnetic insulators 7,8 . We explain this phenomenon by a unique feature of the band structure in this system: the density of states exhibits a sharp minimum at the Fermi level at the same alloy concentration at which the minimum in the magnetic damping is found. This discovery provides both a significant fundamental understanding of damping mechanisms and a test of the theoretical predictions proposed by Mankovsky and colleagues 3 .In recent decades, several theoretical approaches have attempted to quantitatively predict magnetic damping in metallic systems. One of the early promising theories was that of Kambersky, who introduced the so-called breathing Fermi-surface model 9-11 . More recently, Gilmore and Stiles 2 as well as Thonig et al. 12 demonstrated a generalized torque correlation model that includes both intraband (conductivity-like) and interband (resistivity-like) transitions. The use of scattering theory to describe damping was later applied by Brataas et al. 13 and Liu et al. 14 to describe damping in transition metals. A numerical realization of a linear response damping model was implemented by Mankovsky 3 for Ni-Co, Ni-Fe, Fe-V and Co-Fe alloys. For the Co-Fe alloy, these calculations predict a minimum intrinsic damping of α int ≈ 0.0005 at a Co-concentration of 10% to 20%, but was not experimentally observed 15 .Underlying this theoretical work is the goal of achieving new systems with ultra-low damping that are required in many magnonic and spin-orbitronics applications 7,8 . Ferrimagnetic insulators such as yttrium-iron-garnet (YIG) have long been the workhorse for these investigations, because YIG films as thin as 25 nm have experimental damping parameters as low as 0.9 × 10 −4 (ref. 16). Such ultra-low damping can be achieved in insulating ferrimagnets in part due to the absence of conduction electrons-and, therefore, the suppression of magnon-electron scattering. However, insulators cannot be used in most spintronic and spin-orbitronic applications, where a charge current through the magnetic material is required, nor is the requirement of growth on gadolinium gallium garnet templates compatible with spintronics and complementary metal-oxide semiconductor (CMOS) fabrication processes. One...