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Irradiation of IrMn-based spin valves with 550 eV hydrogen ions increased their giant magnetoresistance and exchange bias by 20% and 60%, respectively. This significant enhancement stems from the strong (111) texture and small mosaic spread of the IrMn antiferromagnet that resulted from the microstructural reconstruction caused by the energy transfer during the bombardment by hydrogen ions, as well as by the narrow dispersion in the exchange bias. Irradiation with the hydrogen ion at low energy can improve the properties of spin valves without resulting in undue degradation in the performance or the microstructure.