We report structural and magnetic properties of fine particles embedded in an amorphous magnetic matrix. As-quenched amorphous Fe_73.5Nb₃CuSi_13.5B₉ ribbons (FINEMET) were submitted to the thermal treatments of several times (1  t  240 min) at 570 °C using a conventional furnace. The analyses of the X-ray diffraction patterns at room temperature reveal that our samples consist of single phase Fe₃Si nanocrystals embedded in a residual amorphous phase. Magnetic measurements show that the saturation moment at T = 450 °C increases as a function of annealing time. This behavior is attributed to an increase of the fraction of nanocrystallites in the residual amorphous phase.