After a brief report on the experiments which have been made on magnetic annealing, recent investigations on the magnetic anisotropy which is induced by cold rolling are described. The local and the average anisotropy induced by rolling was observed by means of domain pattern and torque measurement for (110)[001], (001)[110], (001)[100] rolling of single crystals and rolling of polycrystals. It was shown that the anisotropy for individual cases was well explained by assuming the ``slip‐induced directional order.'' Two types of the anisotropy i.e., long‐range order (fine slip) type and short range order (coarse slip) type, were calculated. Dependence on the degree of order and its difference between single and polycrystals are also discussed.