Magnetoresistance (MR) of the magnetic multilayer having two magnetic components (Co 30 Angstrom C/u 50 Angstrom/NiFe 30 Angstrom/Cu 50 Angstrom)(15) has been measured at high pressure up to 2.1 GPa. It is found that the MR ratio decreases with increasing pressure at 4.2 K. The magnetization process of NiFe permalloy sublayer is suggested to be affected largely by applying high pressure.