The influence of stress/field annealing on magnetic domain structure and held dependence of Young modulus (Delta E-effect) of amorphous Fe80Cr2B14Si4 ribbons was studied. The change of induced magnetic anisotropy is well reflected in magnetomechanical behaviour. The steepest reduction of Delta E is observed in the same region of the annealed stress sigma(a) where the character of the domain structure changes. The experimentally observed behaviour is qualitatively well explained by the theoretical model developed under the assumption that the stress/field-induced anisotropy is given by a superposition of the stress-induced and field-induced components. (C) 1999 Elsevier Science B.V. All rights reserved.