The microstructure and magnetic properties of binary hypo- and hyper-eutectoid Fe-C alloys were studied. The investigations have been carried out on the samples in the as-cast state, after a long annealing at 725 degrees C and on the specimens after the high-pressure torsion (HPT). The deformation was carried out at the ambient temperature and the pressure of 5 GPa. The grain size after HPT is in the nanometer range. Long annealing leads to a drastic decrease of the coercivity in comparison with the as-cast alloys. In all alloys the coercivity H-c increases with increasing carbon content. The distance L between pinning points for domain walls decreases with increasing carbon content. Increase of the coercivity and decrease of L are more pronounced below the eutectoid concentration. The coercivity of the nanostructured samples is higher than that of the as-cast alloys. Due to the pinning of domain walls by the cementite particles, the hysteresis loop in the coarse-grained alloys both in as-cast and annealed states has a narrowing near the zero magnetization.