The electrochemical property, chemical composition and crystal structure of electroless Co-Ni-B-Ce alloy plated in general state as well as in magnetic field were studied using potentiometer, plasma emission spectrometer, X-ray diffractometer, transmission electron microscope. The results show that the static potential and polarizability of electroless Co-Ni-B alloy are remarkably improved as the plating is carried out in magnetic field in the presence of a little amount of cerium in plating bath. Because of the action of magnetic field and rare earth element cerium, the boron content in alloy decreases, while cobalt and nickel contents increase. As a result, the amorphous Co-Ni-B alloy transforms to the microcrystalline Co-Ni-B-Ce alloy when the plating is in general state, and the Co-Ni-B alloy makes a crystalline transformation because of the action of magnetic field and rare earth element cerium. The electrochemical property, chemical composition and crystal structure of electroless Co-Ni-B-Ce alloy plated in general state as well as in magnetic field were studied using potentiometer, plasma emission spectrometer, X-ray diffractometer, transmission electron microscope. The results show that the static potential and polarizability of electroless Co-Ni-B alloy are remarkably improved as the plating is carried out in magnetic field in the presence of a little amount of cerium in plating bath. Because of the action of magnetic field and rare earth element Cerium, the boron content in alloy decreases, while cobalt and nickel content increase. As a result, the amorphous Co-Ni-B alloy transforms to the microcrystalline Co-Ni-B-Ce alloy when the plating is in general state, and the Co-Ni-B alloy makes a crystalline transformation because of the action of magnetic field and rare earth element cerium.