Abstract Extended Preisach model parameters can be strongly related to microstructural properties of material. It can also include real physical magnetization mechanisms such as domain wall motion and domain rotation. This paper shows that Preisach model is able to anticipate different phases in material structure. Existence of different phases in the material are due to thermal treatment, which is used to improve magnetic properties of amorphous alloys. Model was verified using ring shaped cores made of bilayered amorphous ribbons, which served as a physical model of the loosely coupled two phase ferromagnetic material with distinct magnetic properties.