In recent years, amorphous and nanocrystalline Fe-based alloys, due to their unique soft magnetic properties, have emerged as one of the most promising group of modern materials for various electric applications. This work presents microstructure and AC/DC magnetic properties of the NANOPERM-type material. The as-quenched amorphous Fe76Mo8Cu1B15 alloy was prepared by rapid quenching method in a form of 10 mm wide and 0.025 mm thick ribbon. Partial nanocrystallization was obtained by subsequent annealing of amorphous precursor at 783 K for 30 min. Microstructure investigation of annealed sample confirmed precipitation of α-Fe nanograins dispersed in amorphous matrix. In order to assess soft magnetic properties of fabricated material the dependences of core losses versus frequency (50 Hz–20 kHz) at room temperature were established, together with eddy currents, hysteresis, and anomalous losses coefficients separation. The frequency dependent correlation between real and imaginary part of permeability was also presented. Moreover, DC hysteresis loops of both as-quenched and annealed alloy were recorded in temperature range from 200 K to 400 K.