$Pb(Zr_{0.52}Ti_{0.48})O_3$ thin films having the composition near the morphotropic phase boundary were fabricated on $Pt/Ti/SiO_2/Si$ substrate by the reactive cosputtering of Pb, Zr and Ti metal targets. The as-deposited PZT(52/48) film at substarte temperature of 200℃ had the $α-PbO_2$ phase and was annealed at temperature between 450℃ and 850℃ in oxygen atmosphere to obtain the perovskite structure via the furnace and rapid thermal annealing. Firstly, the properties of the furnace-annealed film were evaluated. The as-deposited PZT(52/48) film trasforms to the pyrochlore $Pb_2(Zr,Ti)_2O_{6-x}$ phase at temperatures between 450℃ and 500℃ and to the perovskite phase with pseudo-cubic structure at temperature between 550℃ and 650℃. Annealing at temperatures higher than 750℃ yielded the coexistence of rhombohedral and tetragonal phase characteristic of morphotropic phase boundary, which was indicated by the peak splitting of (100), (110), (200) and (112) peaks of the pseudo-cubic perovskite phase. The lattice parameter and the resultant compressive film stress decrease as annealing temperature increases. The (110) preferred orientation increases as the film thickness increases. By XPS analysis, it was found that the PZT(53/48) film had been fully oxidized from the as-deposited state and the oxidation state did not change even after annealing in oxygen atmosphere. The interface analysis of $PZT/Pt/Ti/SiO_2/Si$ multilayer by AES and STEM revealed that the Pb-Pt reaction layer at PZT/Pt and Ti-silicide at $Ti/SiO_2$ formed at annealing temperature higher than 450℃. Also the intermetallic compound $Pt_3$ Ti intervened as isolated layer in the $TiO_{2-X}$ layer due to the interdiffusion of Pt/Ti and the barrier effects $TiO_{2-X}$ during annealing. The dielectric and ferroelectric properties of PZT(52/48) with MIM (Metal-Insulator-Metal) structure were measured. The dielectric constant and the remanent polarization both increase as the film thickness increases in the following manner:170 and 1.2μC/㎠ at 0.65㎛ and 600 and 2.4μC/㎠ at 2.3㎛. The dielectric constant and dielectric loss shows the Debye type dielectric dispersion phenomenon. The coercive field was almost same in both the film thicknesses, 7-8 kV/cm. The dielectric loss decreases from 5% at 0.65㎛ to 2% at 2.1㎛. The C-V curve shows the hysteresis loop having double peaks. At 550℃, the leakage current increases from $1.0\times10^{-6}A/cm^2$ for 30 minutes annealing to $7.0\times10^{-6}A/cm^2$ for 4 hour annealing. This increased leakage current with annealing time is due to the increased Pb vacancy. Secondly, the as-deposited PZT(52/48) film was rapidly thermal-annealed at temperature between 550℃ and 800℃ for less than 2 minutes. The RTA-treated film had been crystallized into the perovskite phase with pseudo-cubic structure at 650℃, which was higher than the crystallization temperature of furnace-annealed film by 100℃. The peak splittings of perovskite phase were not found even at temperature of 800℃ unlike the furnace-annealed film. The (110) preferred orientation increases as the annealing time increases and approaches the value of furnace-annealed film. The lattice parameter decreased to 4.07 Å of bulk value as the film thickness and annealing temperature increase. The Pb-Pt reaction layer at PZT/Pt and $Pt_3Ti$ in the $TiO_{2-X}$ layer did not formed unlike the furnace-annealed film due to very short annealing time. The dielectric constant increases as film thickness and annealing temperature increases. The values were almost the same as the furnace-annealed film. The dielectric loss was less than 2%, smaller than furnace-annealed film. The leakage current increases as annealing temperature/time increases and the film thickness decreases. For 1.2㎛ thcick film, the leakage current density was $1.0\times10^{-7}A/cm^2$ at 650℃for 5 seconds annealing. This value was 1 order smaller than the furnace-annealed film. The remanent polarization and coercive field were larger than the furnace-annealed film, and the values of $P_R$ and $E_C$ were 4-6μC/㎠ and 30-140kV/cm, respectively, depending upon the film thickness. The coercive field decreases with film thickness, and satisfies the relation $E_C$ $\propto$ $d^{-1/2}$. The internal bias field measured from the asymmetry of D-E hysteresie loop was 2-4 kV/cm, which was caused by space charge due to Pb or oxygen vacancy. The 0.3 ㎛ and 1.2㎛ thick film shows C-V hysteresis loop typical of ferroelectric thin film with MIM structure. Especially, the C-V hysteresis loop of 1.2㎛ thick film annealed for 5 seconds at 650℃ tends to diffuse as annealing time increases and at the annealing time of 2 minutes, shows double peaks as the furnace-annealed film. In summary, RTA-treated PZT(52/48) thin film exhibited reduced leakage current and dielectric loss and increased remanent polarisation and corecive field compared to furnace-annealed film. The dielectric constant did not change appreciably.