The aim of this work was to prepare powder samples by milling of amorphous and partially nanocrystalline ribbons of Finemet type material and to investigate the influence of milling time on the structure and magnetic properties of powder Finemet material. The magnetic moments and the ratio of amorphous parts of the samples were measured by a vibrating sample magnetometer (VSM) as a function of milling time. The coercivity was determined from the hysteresis loops traced by the VSM, We found that magnetic properties significantly depend on milling time and the structural state of the ribbons, The coercivity increases to its maximum for amorphous and partially nanocrystalline samples up to 800 hours of milling time and then decreases. This maximum is corresponding with maximum of the volume fraction of crystalline phase in the sample.