The soft magnetic nanocrystalline Fe73.5Si13.5B9Cu1Nb3 alloy (FINEMET®) is produced by heat treatment of amorphous precursor. Determining kinetic parameters of amorphous structure transformation to nanocrystalline allows the control of microstructure (e.g. size and volume fraction of nanocrystalline grains) in order to achieve desired soft magnetic properties by optimizing the heat treatment conditions. In this research, the nanocrystallization kinetics of amorphous FINEMET alloy were studied using isoconversional and isokinetic methods under non-isothermal conditions of various heating rates ranging from 5 to 20˚C/min. The changes in the microstructure and magnetic properties of amorphous ribbon during nanocrystallization process were studied using X-ray diffractometry and hysteresisgraph, respectively.