The giant magnetoimpedance effect of the nanocrystalline ribbon Fe84Zr2.08Nb1.92Cu1B11 (atom fraction in %) was investigated. There is an optimum annealing temperature (TA≈ 998 K) for obtaining the largest GMI (giant magneto impedance) effect in the ribbon Fes4Zr2.08Nb1.92Cu1B 11. The ribbon with longer ribbon length has stronger GMI effect, which may be connected with the demagnetization effect of samples. The frequencyfmax, where the maximum magnetoimpedance GMI(Z)max = [(Z(H) - Z(0))/Z(0)]max occurs, is near the intersecting frequency fi of the curves of GMI(R), GMI(X), and GMI(Z) versus frequency. The magnetoreactance GMI(X) decreases monotonically with increasing frequency, which may be due to the decrease of permeability. In contrast, with the AC (alternating current) frequency increasing, the magnetore sistance GMI(R) increases at first, undergoes a peak, and under then drops. The increase of the magnetoresistance may result from the enhancement of the skin effect with frequency. The maximum magnetoimpedance value GMI(Z)max under H = 7.2 kA/m is about -56.18% at f= 0.3 MHz for the nanocrystalline ribbon Fe84Zr2.08Nb1.92Cu1B11 with the annealing temperature TA= 998 K and the ribbon length L = 6 cm.