This invention relates to a metallic magnetic material with high spin polarizability having the following formula: Mnx CoyNzMw, among which, N is the element of III-V group, such as one or many of Al, Ga, In, Si, Ge, Sn and Sb, M is the transition group element: V, Cr Fe and Ni, x is less than or equal to 2.2 but greater or equal to 1.8, y is less than or equal to 1.2 but greater or equal to o, z is less than or equal to 1.2 but greater than o, w is less than or equal to 0.99 but greater or equal to o and x +y+z+w=4. The maximum spin polarizability in the material is 100%, which is a typical semi-metal magnetic material and the minimum is 80%.