Abstract: The soft magnetic properties and corrosion resistance of Fe_84.3Si₂B_8.5P_3.5C₁Cu_0.7 alloy treated at different annealing temperatures were studied. The Fe_84.3Si₂B_8.5P_3.5C₁Cu_0.7 alloy ribbon was prepared by the single-roller melt-spinning in a non-consumable vacuum melting furnace. The phase and microstructure, soft magnetic properties and corrosion resistance of alloy ribbon before and after annealing were analyzed by means of X-ray diffraction, differential scanning calorimetry, scanning electron microscope, vibrating sample magnetometer and electrochemical workstation. The results show that the saturation flux density B_s is about 1.82 T, and coercivity H_c is about 5.2 A·m⁻¹, respectively, for the alloy annealed at 480 ^oC for 3 min; There are only a few acicular corrosion products existed in the corrosion surface of the alloy, no obvious corrosion pits existe on the surface of the alloy with smooth surface, indicating good corrosion resistance. The above experimental results show that Fe_84.3Si₂B_8.5P_3.5C₁Cu_0.7 alloy has good soft magnetic properties and corrosion resistance at 480 ^oC for 3 min.