Nano-scale granular magnetic material is a core component in next-generation recording devices. We investigated the influences of element species and composition of ferromagnetic atoms in copper-nickel base nanogranular magnetic materials. In this work, the authors focused on how microstructural evolution and magnetic properties are correlated in Cu-20at%Ni, Cu-15at%Ni-5at%Co and Cu-15at%Ni-5at%Fe alloys. We used Magneto-thermogravimetry (MTG), superconducting quantum interference device (SQUID) magnetometry and first-principles calculations based on the method of Koster-Korringa-Rostker (KKR) with the Coherent Potential Approximation (CPA) in order to investigate magnetic properties. Transmission electron microscope (TEM) observations revealed that ferromagnetic element atoms were precipitated with annealing at 973K, but microstructures were changed, depending on the combination and composition of the solute atoms. The magnetic property measurements and first-principles calculations have confirmed that magnetic precipitates are responsible for the magnetic properties of the Cu-Ni-Co and Cu-Ni-Fe alloys.