Compositionally modulated Co/Pd superlattice thin films were prepared by dc magnetron sputtering and it's magnetic properties were investigated for effects of sputtering Ar gas pressure, sublayer thickness of Co and Pd, total film thickness, substrates, and buffer layer. Co/Pd thin films have high perpendicular anisotropy ( ~ $10^6$ erg/cc), columnar structure and high degree of orientation texture. It was observed that the uniaxial anisotropy energy, magnetization were monotonically decreased and coercivity was increased with increasing Ar gas pressure. Co/Pd films have perpendicular magnetic anisotropy with Co sublayer thickness less than 8.5Å and surface magnetic anisotropy(0.2 erg/$cm^2$) as dominent origin of perpendicular magnetic anisotropy. Perpendicular magnetic anisotropy and saturation magnetization was increased with increasing total film thickness. Because buffer layer(Pd 500 Å) prevent from effect of substrate, perpendicular magnetic anisotropy and coercivity was increased. This shows that magnetic properties of Co/Pd is related with microstructure.