The magnetic susceptibility of nanocrystalline metal-graphite composite materials with Co and Ni as metallic component was investigated using the Faraday technique. The X-ray diffraction studies, the electron microscopy and the Auger spectroscopy have been performed too. The localized magnetic moment values have been calculated, It was shown that with the variation of the modification conditions it is possible to obtain both the equilibrium and nonequilibrium metallic structures.