The giant magneto-impedance (GMI) properties of FeNiCrSiB/Cu/FeNiCrSiB sandwiched ribbon were studied. The obtained results showed that the sandwiched ribbon had remarkable GMI effects. The maximum values of the longitudinal and transverse GMI ratios were 282% and 408%，respectively，at the frequency of 0.5MHz. Observations indicated the orientation of 180° stripe domains tended to the ribbon axis. Due to the transverse closed magnetic flux loop of sandwiched ribbon, a 10 degrees deflection of stripe domains to the transverse direction is observed.Besides, the relationship between magneto-resistance, magneto-inductance, effective permeability and GMI were analyzed: at the frequency range of 40 Hz~10 MHz, the magneto-inductance played a decisive role.It is attributed to the special sandwiched structure, which reduced energy losses, improved effective permeability significantly and then enhanced magneto-inductance effect.The magneto-inductance effect controlled by effective permeability was the principal features of the GMI.