We present evidence of a localized magnetic domain-wall (DW) oscillator in Co/Ni nanowires. It is found that a DW is localized by the simultaneous application of a high magnetic field larger than the depinning field and a dc current smaller than the threshold current. A one-dimensional model and micromagnetic simulation reveal that the localized DW is in a precessional mode. Our results suggest that a localized magnetic DW oscillator can be realized by appropriately adjusting the magnetic field and dc current. (C) 2015 The Japan Society of Applied Physics