The effect of bath composition, plating condition and plating rate on the magnetic property of electroless Co-Cu-P deposits were investigated. With increasing $CuCl_2$ concentration in the bath, plating rate increased, while the Br value of deposit decreased sharply. Deposited surface were inferiority by the increase pH above 10.5, bath temperature higher than $80^{circ}C$. Plating reaction had been ceased by the increase of pH above 11, bath temperature higher than $90^{circ}C$ and under $40^{circ}C$. The Br value of deposit was uniform with various concentration of complexing agent(sodium citrate) in the bath. The Br value of deposit was almost equal to that found by the addition of stabilizer (thiourea) and accelerator(NaF). The Br value of deposit was uniform in plating time(20min) and heat treatment temperature(below $200^{circ}C$), and were confirmed to have adequate bath stability for practical use.