Recent advances in fine-particle magnetism are reviewed from an experimental point of view, especially with reference to surface magnetism and also to magnetism in low dimensions. Emphasis is placed on intrinsic properties as compared with the behavior of bulk ferromagnets. The spontaneous magnetization is discussed in connection with magnetic-surface reconstruction. Other intrinsic parameters such as magnetic hyperfine fields and magnetic anisotropy of fine particles are also discussed. Emphasis is placed on information provided by Mössbauer spectroscopy.Recent development in applications based on fine-particle magnetism are presented, including the following topics: magnetic fluids, particulate magnetic-recording media, permanent magnets, and catalysts. Finally, some future research prospects are reviewed.