In this paper, the classification and property contrast of soft magnetic materials are summarized. The emphases are placed on the property and application of high property amorphous/nanocrystalline soft magnetic materials. The results show that amorphous /nanocrystalline soft magnetic materials have preferably integrated soft magnetic material properties. The apparatus made of amorphous/nanocrystalline soft magnetic materials have some merits, such as light weight, small bulk, high property and so on. They are widely used in high frequency transformer with big power, high frequency switch power, EMC apparatus, current mutual inductor with high precision, etc. This study is another development direction and hot topic in the field of soft magnetic materials.