A study was made of the structure and magnetic properties of Fe‐Co alloy films produced by dc magnetron sputtering at an oblique angle of incidence. The films obtained in this manner showed uniaxial magnetic anisotropy in the film plane, with an easy axis of magnetization perpendicular to the incident direction of the sputtered particles. The anisotropy field increased with increasing sputtering gas pressure and with increasing Co content at high pressures. The structure of the film surfaces also changed with sputtering Ar gas pressure, and elongated grains were observed in the intermediate Ar pressure range. The texture was essentially isotropic in the film plane over the whole pressure range. It is suggested that the observed uniaxial anisotropy was due mainly to a magnetoelastic effect.