In order to increase the efficiency of the sputtering method widely used in thin film fabrication, a dc sputtering apparatus which supplies both high frequency and magnetic field from the outside was fabricated, and cobalt thin film was fabricated using this apparatus. The apparatus can independently control the applied voltage, the target-substrate distance, and the target current, which are important parameters in the sputtering method, so that a stable glow discharge is obtained even at a low gas pressure of 10−3 Torr. The fabrication conditions using the sputtering method were mainly performed in Ar+O2 mixed gas containing about 0.6% oxygen gas under various Ar gas pressures of 1 to 30 mTorr. The microstructure of Co thin films deposited using this apparatus was examined by electron diffraction pattern and X-ray techniques. The magnetic properties were investigated by measuring the magnetization curves. The microstructure and magnetic properties of Co thin films depend on the discharge gas pressure. The thin film fabricated at high gas pressure showed a columnar structure containing a large amount of the third phase in the boundary region and the thin film formed at low gas pressure showed little or no columnar structure. The coercivity in the plane was slightly larger than that in the latter case.