This talk will be divided into two parts. In parts I, I will mention some basic concepts of materials research will be given, in order to provide an overview of how materials research is conducted. In Part II, some recent results on fabrication and characterization of multifunctional materials nanostructures will be introduced. The materials combine both magnetic and electric properties together, and may lead to a new generation of devices like memory and sensors. My work is focused on how to construct a new type of nanostructure array of these materials using nanotechnology in our institute, and also the observed new physic properties in these materials.