Ni/Pd multilayer nanowire arrays have been electrodeposited into the nanochannels of porous polycarbonate (PC) template. Current–time profiles obtained during the deposition process were analyzed to understand the mechanism of growth. Synthesized nanowires were fully characterized by X-ray diffraction (XRD), energy dispersive X-ray (EDX), and scanning electron microscopy (SEM). The X-ray diffraction pattern showed that Pd and Ni grow in their face-centered-cubic (FCC) structures. Each nanowire had the same length of ≈4 μm and a diameter of 90 nm. The magnetic properties of the prepared nanowires are different under different electrodepositing conditions. A vibration sample magnetometer (VSM) was used to determine the effect of the Pd content on magnetic properties of final products