Brillouin light scattering (BLS) has been established as a standard technique to study thermally excited sound waves with frequencies up to ~100 GHz in transparent materials. In BLS experiments, one usually uses a Fabry–Pérot interferometer (FPI) as a spectrometer. The drastic improvement of the FPI contrast factor over 1010 by the development of the multipass type and the tandem multipass type FPIs opened a gateway to investigate low energy excitations (ħω £ 1 meV) in various research fields of condensed matter physics, including surface acoustic waves and spin waves from opaque surfaces. Over the last four decades, the BLS technique has been successfully applied to study collective spin waves (SWs) in various types of magnetic structures including thin films, ultrathin films, multilayers, superlattices, and artificially arranged dots and wires using high-contrast FPIs. Now, the BLS technique has been fully established as a unique and powerful technique not only for determination of the basic magnetic constants, including the gyromagnetic ratio, the magnetic anisotropy constants, the magnetization, the SW stiffness constant, and other features of various magnetic materials and structures, but also for investigations into coupling phenomena and surface and interface phenomena in artificial magnetic structures. BLS investigations on the Fe/Cr multilayers, which exhibit ferromagnetic-antiferromagnetic arrangements of the adjacent Fe layer’s magnetizations depending on the Cr layer’s thickness, played an important role to open the new field known as “spintronics” through the discovery of the giant magnetoresistance (GMR) effect. In this review, I briefly surveyed the historical development of SW studies using the BLS technique and theoretical background, and I concentrated our BLS SW studies performed at Tohoku University and Ishinomaki Senshu University over the last thirty five years. In addition to the ferromagnetic SW studies, the BLS technique can be also applied to investigations of high-frequency magnetization dynamics in superparamagnetic (SPM) nanogranular films in the frequency domain above 10 GHz. One can excite dipole-coupled SPM excitations under external magnetic fields and observe them via the BLS technique. The external field strength determines the SPM excitations’ frequencies. By performing a numerical analysis of the BLS spectrum as a function of the external magnetic field and temperature, one can investigate the high-frequency magnetization dynamics in the SPM state and determine the magnetization relaxation parameters.