PURPOSE:To obtain a Co-Ni alloy for vapor deposition having a low impurity content and enabling stable and efficient formation of a magnetic thin film having superior characteristics, by specifying a compsn. consisting of Ni, Al, Ca, Mg, O, N and Co. CONSTITUTION:This Co-Ni alloy for vapor deposition consists of 5-30wt% Ni, =1wt% Al, =300ppm Ca and/or Mg, =30ppm O, =30ppm N and the balance essentially Co or further contains =1wt% Ti and/or =25wt% Cr. The alloy is suitable for use in the production of a thin film having superior magnetic characteristics and used as a magnetic recording material. Co, Ni, and Al to be alloyed are put in a vessel lined with a CaO-base refractory, metals such as Ti and/or Cr or an alloying material is further added as required and they are melted by high frequency induction heating or other heating method in a nonoxidizing atmosphere to obtain the Co-Ni alloy.
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