Metal-insulator type, nano-granular soft magnetic films have been reviewed from the viewpoint of high frequency magnetic materials. The formation of nano-granular structure is related to the magnitude of heat of formation of intergranule materials. Variation of the ratio of granule phase to intergranule phase in the film is found to produce various characteristics in the magnetic properties of the film. The HRTEM observation reveals that neighboring granules in the film with above 60 at.% Co, contact at considerable points and the films show soft magnetic properties which are explainable in terms of the random anisotropy model for nano-crystalline materials. Addition of Ni group elements in Co-O based films enhances their anisotropy field up to 400 Oe and they exhibit excellent frequency response of permeability. Also, large electromagnetic noise suppression effect is demonstrated as one of their potential applications.