Co–Ni–Al is considered as a suitable ferromagnetic shape-memory alloy and has significant control over structural transformation temperature, magnetic parameters, and ductility. In this paper, the fabrication of Co–Ni–Al alloy thin films on Si (1 0 0) substrate was achieved via pulsed laser deposition (PLD) technique. The developed films annealing was done at 573, 673, and 773 K temperatures and inveterate their crystalline structure, phase analysis, and magnetic nature of the annealed Co38Ni35Al27 films. X-ray diffraction analysis at 773 K annealing temperature reveals that, the Co38Ni35Al27 film shows high crystallinity, and all annealed films have a body-centered cubic phase structure. The crystallite size estimated from Scherrer rule is noticed to increase from 10 to 22 nm when the annealing temperature raised to 773 K. From the SEM images, we infer that there is an increase in grain size when the annealing temperature increases and the grains shape looks spherical. The magnetic study of the samples shows that the film possesses highest magnetic saturation and lowest coercivity at 773 K annealing temperature. Also, the film annealed at 773 K exhibits a wide range of transformation temperatures and has a curie temperature of 180 K.