The magnetic and microstructural properties of Co-Cr/ Ag/Cr/Glass films were studied changing the Ag interlayer thickness from 0 to 10Å. Changes in the magnetic and microstructural properties of films by annealing were found to depend not only on the annealing temperature, but also on the interlayer thickness. After annealing at 450°C, the perpendicular coercivity H_c(⊥) and perpendicular magnetic anisotropy field H_k(⊥) increased to about 1.7 kOe and 3.5 kOe, respectively, for Ag interlayer thicknesses of more than 2Å. With the presence of an Ag interlayer, the measured I(00.2)/I(10.1) of hcp-CO became larger, and c-axis perpendicular orientation was enhanced.