Abstract: A new Cu₈₀Ni₁₃Fe₇ alloy was obtained and rolled into thin tape with a thickness of 0.2 mm successfully. The machining property proved to be better than the conventional Cu₆₀Ni₂₀Fe₂₀ alloy. The elfects of tempering temperature and time on the magnetic properties of the alloy were studied. Better magnetic property of the alloy could be got only under proper tempering condition. After tempered at 635℃ for 1 h, the coercivity H_c, the remnant induction B_r and the squareness S of the alloy reached 54.2 kA·m^-1, 0.19 T and 0.79, respectively. Magnetic measurements showed that the difference of coercivity between parallel and perpendicular to the rolling direction for the alloy tempered at 635℃ for 1 h, is more significant than those under other tempering conditions. The results indicate that the alloy is a candidate for magnetic scales.