Giant　magnetostrictive　SmFe2/Fe　exchange-coupled　multilayers　were　fabricated　by　ion　beam　sputtering　deposition　on　glass　substrates.　The　effects　of　SmFe2/Fe　exchange　coupling　action　and　vacuum　annealing　on　soft-magnetic　property　and　static-dynamic　magnetostrictive　characteristics　of　SmFe2/Fe　multilayers　were　investigated.　The　results　showed　that　the　soft-magnetic,　staticdynamic　magnetostrictive　characteristics　were　greatly　improved　by　SmFe2/Fe　exchange　coupling　action　and　proper　vacuum　annealing　treatment　temperature.　Compared　with　that　of　SmFe2　single　film,　the　coercivity　in　the　direction　of　easy　magnetization　axis　for　SmFe　2/Fe　exchange-coupled　multilayers　exhibited　a　greater　decrease.　Better　soft-magnetic　properties　were　achieved　(Hc=2.54　kA/m,　M　s=120.38　emu/g,　and　Mr/Ms=0.21)　after　vacuum　annealing　at　certain　temperature.　The　magnetostrictive　coefficient　for　SmFe　2/Fe　exchange-coupled　multilayers　was　about　135　ppm　at　16　kA/m　magnetic　field.　At　first　order　resonant　frequency　(99.2　Hz),　the　amplitude　peakpeak　value　for　the　as-deposited　SmFe2/Fe　exchange-coupled　multilayers　was　46　μm.　After　the　vacuum　annealing　treatment　at　250　°C,　the　amplitude　peakpeak　value　increased　to　650　μm.　©　2011　Elsevier　B.V.　All　rights　reserved.