Abstract Dielectric thin films deposited by Ion beam sputtering deposition technique have superior properties of good adhesion and customized optical properties suits to many optical filters for electro-optical sensors. In the present work Tantalum Pentoxide (Tantala) and Silicon Dioxide (Silica) thin films are fabricated with dual ion beam sputtering deposition process. The process parameters are optimized to achieve better surface quality and optical constants. The effect of the assist ion beam on the film properties is evaluated. Multi-layer dielectric mirrors realized with 1000 ppm loss on optimization of single-layer Silica and Tantala films, which will be suitable for linear and Ring Laser Resonators. The films are characterized by ellipsometer, non-contact optical profiler, spectrophotometer, and cavity ring-down loss meter. The multi-layer mirrors were subjected to vacuum annealing and the effect of annealing on film reflectivity is evaluated. The work emphasizes the process requirements of Ion Beam Sputtering to realize high reflectivity and low loss mirrors of Tantala and Silica films from Ta2O5 and SiO2 target materials. It gives an insight into the process deficiencies in matching the theoretical design of multi-layer mirrors from the practical aspects of coatings.