The current status of the Mossbauer investigations of the soft magnetic nan
ocrystalline alloys produced by utilizing the first step of crystallization
of the amorphous alloys such as FeCuNbSiB and FeZrBCu is reviewed. Convent
ional Mossbauer measurements allow the identification of phases formed due
to annealing of the amorphous precursor and the evaluation of their relativ
e content. The unconventional rf-Mossbauer technique, in which the rf colla
pse and sideband effects we employed, permits us to distinguish the magneti
cally soft nanocrystalline bcc-Fe phase from the magnetically harder microc
rystalline Fe. Qualitative information concerning the distribution of aniso
tropy fields in the nanocrystalline grains can be inferred from the depende
nce of the rf collapsed spectra on the rf field intensity. The rf-sidebands
effect reveals strong reduction of magnetostriction due to the formation o
f the nanocrystalline phase. The rf-Mossbauer technique provides a unique o
pportunity to study the microstructure and magnetic properties of each phas
e formed in the amorphous precursor.