We report on magnetic and magneto-optical properties of [Tb/Fe] n multilayers. The dependence on Tb and Fe thicknesses and on the stacking parameter n have been studied. For a thick sample ( n=40), we confirm that the ferrimagnetic or compensation temperatures and the magneto-optical effects are close to those deduced previously for Tb x -Fe 1- x metallic alloys having the same nominal composition. Thinner samples ( n<40) exhibit slightly different magnetic properties. In particular, a transition from in-plane to out-of-plane anisotropy for low values of n is evidenced and discussed. Magnetization reversal dynamics are studied and analyzed from magnetic after-effect measurements and microscopic domain imaging. Typical values of Barkhausen volumes are deduced.