Synthesis and characterization of magnetic nanostructures is an important aspect of research in nanoscience. In order to improve the characteristics of nanomaterials based devices, it is important to understand the structure property relation as well as the mechanism of the magnetic ordering. The goal of our research is to investigate the suitability of nanostructured magnetic materials for applications in high density magnetic data storage such as magnetic tapes, and hard disk media. Some of these nanostructures are rodlike metallic iron nanopartcles g-Fe2O3 nanoparticles, PZT thin films with Co nanostructures, Co/Fe multilayers, core-shell structured FePtM (M= Au, Cu) nanoparti nanoparticles. The orientatonal ordering of nanostructures are investigated using small angle neutron scattering, and element specific magnetic behavior is determined using x-ray magnetic circular dichroism spectroscopy.