Fe/MnO multilayers with different bilayer thicknesses were grown by pulsed laser deposition method. Grazing incidence X-ray reflectivity results showed obvious multilayer Bragg peaks implying highly layered samples and, through their analysis, some structural parameters were quantiatively estimated. From the X-ray diffraction peak corresponding to MnO(111), Mn-oxide turned out to be dominantly MnO. To characterize the magnetic properties of $Mn^{+2}$, XMCD were carried out. Magnetic moments of MnO near interfaces were ordered in the opposite direction to those of Fe.