This letter reports on the magnetic properties of Fe/Co and Fe/CoFe multilayer films. A zero magnetostriction is realized by changing the thickness of each layer. In addition, Fe/Co films with high magnetization of more than 2 T and good soft‐magnetic properties of 1.5 Oe coercivity are confirmed. By 300 °C annealing, the hard‐axis coercivity in Fe/Co films decreases to 0.8 Oe. Furthermore, a suitable magnetic domain structure for a thin‐film head is confirmed, and the structure is found to be determined by the total magnetostriction.