In this study, X-ray diffraction (XRD) analysis showed the amorphous nature of the Co60Fe20Yb20 films deposited at room temperature (RT), 100 °C, and 200 °C. The body-centered cubic (BCC) CoFe (110) characteristic peak was visible at 44.7° after annealing films of 40 nm and 50 nm at 300 °C. The highest alternating current magnetic susceptibility (χac) value was 0.21 at 50 Hz in a 50 nm, and the lowest resistivity value was 1.02 (×10−2 Ω.cm) in a 50 nm. In terms of nano-indication measurement, the highest value of hardness was 9.29 GPa at 300 °C in a 50 nm. When the thickness increased from 10 nm to 50 nm, the hardness and Young’s modulus of the Co60Fe20Yb20 film also showed a saturation trend. The Co60Fe20Yb20 film had the maximum surface energy at 50 nm after 300 °C annealing. The transmittance of Co60Fe20Yb20 films decreased when the thickness was increased because the thickness effect suppresses the photon signal. Due to high χac, low electrical performance, strong nano-mechanical properties, and high adhesion, it was discovered in this work that 50 nm with annealing at 300 °C was the ideal condition for the magnetic and adhesive capabilities of Co60Fe20Yb20 film. More importantly, replacing the CoFeB seed or buffer layer with a thin CoFeYb film improved the thermal stability, making CoFeYb films attractive for practical magnetic tunnel junction (MTJ) applications. Furthermore, the specific properties of Co60Fe20Yb20 films were compared to those of Co60Fe20Y20 films, demonstrating that the specific properties of these two materials may be compared.