The change of magnetoelastic properties after thermal treatments has been investigated for two groups of metallic glasses. (Fe79Co21)75+xSi15−1.4xB10+0.4x (x(at.%)=0, 2, 4, 6, 8, 10) has been studied both in the as-prepared state and after thermal annealing in an applied magnetic field, to achieve a particular domain structure, at temperatures well below the crystallization temperatures. Changes in the ΔE effect, magnetomechanical coupling (k) and internal friction coefficient (Q−1) are reported, reaching values of about 60% of the saturation value ES. Fe64Ni10Nb3Cu1Si13B9 alloys annealed in vacuum for 1h in the temperature range 350–550°C showed maximum values of the ΔE effect and k of 61% and 0.85, respectively, accompanied by a minimum value of Q of around 2 for the sample annealed at 460°C. These variations are related to the progress of nanocrystalization. The properties achieved are among the best reported for magnetomechanical applications.