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A push-pull type ferromagnetic (FM)/ferroelectric (FE) composite was realized with depositing soft magnetostrictive amorphous (Fe65Co35)80B20 alloy on top of the microfiber lead zirconate titanate commercial composite. The piezoelectric and magnetic hysteresis loops of the FM/FE composite were measured with different electric field polarization. We report a remarkable large converse magnetoelectric effect at room temperature including reversible tuning of the in-plane uniaxial anisotropy. The experimental results were analyzed based on strain-induced magnetization change theory. For this purpose, the applied stress to FM resulting from the piezoelectric strain of FE and the saturation magnetostriction of FM were evaluated. The results indicate a high magnetostriction constant value of 110 ppm and moderate useful applied stress of ± 50 MPa. We conclude that the combination of soft magnetostrictive FM with push-pull type piezoelectric FE is suitable for ultralow power electric field writable or tunable electronic devices.