PURPOSE: To obtain the title material retaining excellent magnetic characteristics and furthermore having excellent wear resistance and corrosion resistance by specifying the compsn. of an amorphous alloy consisting of Co, Hf, W, Ta, Nb and Al.

CONSTITUTION: In an amorphous alloy having the elemental compsn. of Coa HfbAd or Co≥a Hfb XcAld Cre where X denotes either one element among W, Ta and Nb, (a), (b), (c), (d) and (e) independently satisfy, by atom %, 81.0≤(a)≤93.5, 5.0≤(b)≤17.5, 0.5≤(c)8.0, 0.5≤(d)≤5.0, 0.5≤(e)≤5.0 and (a) + (b) + (c) + (d) = 100 or (a) + (b) + (c) + (d) + (e) = 100 are regulated, by which the magnetic material having improved wear resistance and corrosion resistance while retaining excellent magnetic characteristics and workability of a Co-Hf amorphous magnetic alloy can be obtd. By the use of the material, a magnetic head having excellent environmental durability and suitable for a tape having high coercive force can be obtd.