Co-Fe-Ni-B-Si-Cr based amorphous strips containing nitrogen were manufactured via melt spinning, and then devitrified by crystallization treatment at the various annealing temperatures of $300^{circ}C{sim}540^{circ}C$ for up to 30 minutes in an inert gas $(N_2)$ atmosphere. The microstructures were examined by using XRD and TEM and the magnetic properties were measured by using VSM and B-H meter. Among the alloys, the amorphous ribbons of $Co_{72.6}Fe_{9.8}Ni_{5.5}B_{2.4}Si_{7.1}Cr_{2.6}$ containing 121 ppm of nitrogen showed relatively high saturation magnetization. The alloy ribbons crystallized at $540^{circ}C$ showed that the grain size of $Co_{72.6}Fe_{9.8}Ni_{5.5}B_{2.4}Si_{7.1}Cr_{2.6}$ alloy containing 121 ppm of nitrogen was about f nm, which exhibited paramagnetic behavior. The formation of nano-grain structure was attributed to the finely dispersed Fe4N particles and the solid-solutionized nitrogen atoms in the matrix. Accordingly, it can be concluded that the nano-grain structure of 5nm in size could reduce the core loss within the normally applied magnetic field of 300A/m at 10kHz.