Magnetic properties and microstructures of Fe$\_$93-x/Zr$_3$B$_4$Ag$\_$x/ thin films were investigated as a function of addition of element Ag, (X$\_$Ag/=0 to 6 at.%) and annealing temperature, T$\_$a/=300$^{C}$ to 600$^{C}$. In the case of adding Ag, magnetic properties of Fe$\_$93-x/Zr$_3$B$_4$Ag$\_$x/ thin films were improved than those of Ag-free Fe$\_$93/Zr$_3$B$_4$thin films. The prominent soft magnetic properties with coercivity of 1.1 Oe, saturation magnetization of 2.2 T and permeability of 5400 at 50㎒ were obtained from Fe$\_$88/Zr$_3$B$_4$Ag$\_$5/ thin film annealed was lower than that of Fe-base or Co-base thin films reported previously. Such enhanced magnetic properties are presumably attributed to the format in ultra fine grains. Also, the reduced eddy current loss in the annealed sample is due to refined micro magnetic domains with increasing the amount of Ag in Fe$\_$93-x/Zr$_3$B$_4$Ag$\_$x/ thin films.