AbstractThe magnetic properties of matter continue to be a vibrant research area driven both by scientific curiosity to unravel the basic physical processes which govern magnetism and the vast and diverse utilization of magnetic materials in current and future devices, e.g., in information and sensor technologies. Relevant length and time scales approach fundamental limits of magnetism and with state-of-the-art synthesis approaches we are able to create and tailor unprecedented properties. Novel analytical tools are required to match these advances and soft X-ray probes are among the most promising ones. Strong and element-specific magnetic X-ray dichroism effects as well as the nanometer wavelength of photons and the availability of fsec short and intense X-ray pulses at upcoming X-ray sources enable unique experimental opportunities for the study of magnetic behavior. This article provides an overview of recent achievements and future perspectives in magnetic soft X-ray spectromicroscopies which permit us to gain spatially resolved insight into the ultrafast spin dynamics and the magnetic properties of buried interfaces of advanced magnetic nanostructures.