This book presents current research on advanced magnetic materials and multifunctional composites. Recent advances in technology and engineering have resulted from the development of advanced magnetic materials with improved functional magnetic and magneto-transport properties. Certain industrial sectors, such as magnetic sensors, microelectronics, and security, demand cost-effective materials with reduced dimensionality and desirable magnetic properties such as enhanced magnetic softness, giant magnetic field sensitivity, and large magnetocaloric effect. Expert chapters present the most up-to-date information on the fabrication process, processing, tailoring of properties, and applications of different families of modern functional materials for advanced smart applications. Topics covered include novel magnetic materials and applications; amorphous and nanocrystalline magnetic materials and applications; hard magnetic materials; magnetic shape memory alloys; and magnetic oxides. The book's highly interdisciplinary and forward-looking approach will benefit the scientific community, particularly researchers and advanced graduate students working in the field of advanced magnetic materials, composites, and high-performance sensor and microwave devices.