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TE/TM polarized light reflection from a multilayer structure containing a magneto‐optic (MO) and a metal film is investigated theoretically and experimentally. A metal film is used whose thickness is chosen to support long‐range surface polaritons (SP). This is to use their sharp resonance for tuning the whole structure. It was shown that if the MO layer is placed in a multilayer structure consisting of a thin metal film that supports a long‐range surface polariton, the resonance couples to the off‐diagonal element of the YIG‐film dielectric tensor. This means that this process exhibits a nonreciprocal property, as well as a Faraday rotation in the MO film. A combination of these two effects enhances the value of the magneto‐optic quality (Faraday rotation divided by the losses incurred by the light) and the nonreciprocity of the light reflection from the structure. Theoretical and experimental optimization of these effects at a wavelength equal to 0.5 μm has been carried out for thin monodomain single crystal YIG films, saturated by a magnetic field of the order 1 Oe. It has enabled the design of a high frequency operation circulator to be developed. These results will be reported in this paper.