Dry etching of NiFe, NiFeCo, and Ta for magnetic random access memory (MRAM) by inductively coupled plasmas (ICPs) of Cl2/Ar has been carried out. NiFe and NiFeCo showed maximum etch rates at a particular ICP source power, but the etch rate of Ta increased with the ICP source power. The etch rates of the magnetic thin films increased with the RF chuck power, but decreased with the operating pressure and the Cl2 concentration. To avoid a corrosion problem by chlorine, the etched samples were rinsed with de-ionized water for 5 minutes after etching. The etch profile showed a clean and smooth surface at 50% Cl2 concentration.