An apparatus for annealing alloy ribbon, the apparatus comprising: an unwinder unwinding an alloy ribbon from a spool of the alloy ribbon; a heating member comprising a first flat surface, on which the alloy ribbon unwound by the unwinder runs while contacting the first flat surface, the heating member heating the alloy ribbon running while contacting the first flat surface through the first flat surface; a cooling member comprising a second flat surface, on which the alloy ribbon heated by the heating member runs while contacting the second flat surface, the cooling member cooling the alloy ribbon running while contacting the second flat surface through the second flat surface; and a winder winding the alloy ribbon cooled by the cooling member.