We report on a systematic investigation of newly developed (Fe 70 Ni 30 ) 80 Nb 4 B 14 Si 2 metal amorphous nanocomposites (MANCs) and the factors affecting their surface roughness, including oxide formation and phase evolution during the nanocrystallization process. Analysis of surface roughness using atomic force microscopy (AFM) revealed an average roughness of 9.33 nm after heat treatment compared with as-cast amorphous ribbons, which exhibited a roughness of 4.21 nm. A surface oxide layer thickness has been determined using X-ray photoelectron spectroscopy (XPS). For samples annealed at 400 °C for 1 h, 450 °C for 1 h, and 550 °C for 3 h in air, the average surface oxide layer thickness was determined to be 10.9, 11.7, and 54.4 nm, respectively. It was observed that oxygen is enriched at the outermost surface and decreases rapidly as the XPS sputtering depth increases. Fe-oxide appeared as a predominant metal oxide at the top surface, followed by the presence of Nb oxide. A boron content increase was observed at the interface between the top surface oxide layer and the bulk of the sample. A protective surface oxide layer on FeNi-MANCs, such as observed in this work, can provide sufficient electrical insulation to reduce interlaminate eddy current losses and lower overall losses in magnetic components. • Surface roughness and oxidation of FeNi-based metal amorphous nanocomposites. • Surface roughness in amorphous ribbon using atomic force microscopy (AFM). • Crystallization and activation energies in metal amorphous nanocomposite ribbons. • Phase fractions in metal amorphous nanocomposite ribbons. • Surface oxides partitioning in amorphous and nanocrystalline alloys.