Wet chemical etching of NiFe and IrMn magnetic thin films was studied by using etchants containing HNO3, HCl, H2SO4, H3PO4 and HF in terms of etch rate and etch profile. In the case of NiFe films, faster etching was attained in HNO3 solution while HCl solution showed smooth etched surface. The white materials on etched surface were observed when NiFe films were etched in HCl solution. They were analyzed by x-ray photoelectron spectroscopy (XPS) and were confirmed to be the etch residues containing NiFe and Cl. IrMn films showed fast etching for all of the etchants used in this study and the partial cracks of the films were observed in HNO3 and HCl solutions while HF solution etched the films smooth.