PURPOSE: To provide a permalloy alloy having excellent abrasion resistance and workability by preparing an alloy contg. specific ratios of Ni, Fe, Nb, Ti, Mo, Mn, and having specific satd. magnetic flux density and vickers hardness.

CONSTITUTION: A permalloy alloy consisting, by weight, of 70W85% Ni, 10W20% Fe, 0.1W5% Nb, 0.1W5% Ti, ≤2% Mo, ≤1% Mn, and having ≥7,600 G satd. magnetic flux density B10 (refers to magnetic flux density at 10 Oe applied magnetic field) ≥120 and <150 vickers hardness is prepd. This alloy is ideal as a magnetic head material for metallic magnetic tapes, and provides excellent performance when used as a magnetic head for magnetic iron oxide tapes and magnetic chromium dioxide tapes.