This research aims to investigate the effect of pulsed Nd:YAG laser micro-welding on the microstructure, texture and magnetic properties of ultra-thin Fe–Co-7.15 wt% V magnetic alloy. Optical microscopy, scanning electron microscopy and electron backscattered diffraction techniques were used to study the microstructural evolutions. Also, vibrating sample magnetometry was used to characterize the magnetic properties. The results showed that the fractions of low R coincidence site lattice boundaries in the fusion zone are higher than those of the base metal. The welded samples experience a significant decrease in their magnetic properties. It was found that the formation of new fiber texture in the fusion zone and grain coarsening are the most important factors affecting the magnetic properties.