Fe/Ta multilayered films were deposited on Si substrates by ion beam sputtering (IBS) by alternately using separate Fe and Ta targets. Thickness of Fe and Ta layers lFe and lTa bilayers lFe+lTa in specimen films and total thickness of multilayers films with 10 bilayers were constant at 100 and 1000 Å, respectively. For as‐deposited films, coercivity Hc took minimum value of 0.15 Oe at lFe of 88 Å and lTa of 12 Å, where saturation magnetization 4πMs was 18.3 kG. Films postannealed at 500 °C exhibited 4πMs of 19.1 kG, Hc of 0.05 Oe and μr of 1820. Fe:N/Ta:N multilayered films with N content of ∼10 at. % were deposited by bombarding N ions extracted from the subgun while the films were being grown. For as‐deposited films, Hc took minimum value of 0.07 Oe and μr took maximum value of 1310 at lFe:N of 93 Å and lTa:N of 7 Å, where 4πMs was 20.5 kG. Films postannealed at 500 °C exhibited 4πMs of 21.2 kG, Hc of 0.03 Oe and μr of 2380. Consequently, Fe/Ta and Fe:N/Ta:N multilayered films may be very suitable for magnetic cores in inductive heads for ultrahigh density recording. © 1996 American Institute of Physics.