Ternary Fe-Co-Si B20 phase structure was formed by implanting Fe and Co ions consecutively into Si(100) substrate at 50 keV energy, each with a fluence of 1.0 × 1017 atoms/cm2 and post-thermal vacuum annealing at 500 oC for 60 minutes. An in-situ magnetic field was used to enhance the formation of the ternary phase in the Si substrate during the implantation process. The magnetic field of 0.05 T was applied perpendicular to the incoming ion beam direction and parallel to the substrate surface to form elongated clusters in the transverse direction of the sample. Prior to the implantation of ions, the implant ions depth profiles were simulated using a dynamic ion-solid interaction code (TRIDYN). The TRIDYN simulation predicted a saturation in the peak concentration of the Fe and Co ions at a fluence of 1.0 × 1017 atoms/cm2. XPS measurement at the peak concentration depth (40 nm) showed the presence of Fe (23 %) and Co (32 %) in the Si matrix. XRD characterization confirmed the presence of stable Fe-Co-Si B20 phase structure in the annealed samples implanted with the in-situ magnetic field.