The present state of knowledge and understanding of the basic magnetic properties of amorphous alloys is reviewed. It covers magnetic moment, exchange interaction and temperature dependence of the magnetization for both categories; metal - metalloid and rare earth-transition metal amorphous alloys. It is pointed out that the effect of electron transfer on the magnetic moment of transition metal atoms and the effect of fluctuation of exchange interaction on the temperature dependence of the magnetization is characteristic in amorphous alloy systems
