The aim of the proposed research is to develop “opto-nano-magnetism” as a novel approach for future magnetic recording and information processing technology at the junction of coherent nonlinear optics, nanophotonics and magnetism. In particular, we are aiming to investigate effects of light on magnetic order at the nanoscale, to obtain highly efficient and ultrafast (10-12 seconds and faster) optical control of nanomagnets and thus initiate a development of novel technology for unprecedented fast (THz) magnetic recording and information processing, including spintronics. To this aim we have formed a multi-disciplinary consortium of academic and industrial partners with complementary expertise in coherent nonlinear magneto-optics and ultrafast magnetization dynamics, spatially and time resolved magnetooptics, nanophotonics and X-ray nanoprobing of magnetism, atomistic simulations of subpicosecond magnetization dynamics for strongly nonequilibrium ensembles of spins, technology of magnetic nanostructures and their applications in spintronics. The project is directly relevant to NMP-2007-2.2-2 Section of the NMP Work Programme (Nanostructured materials with tailored magnetic properties).