Magnetoelectric (ME) film composites consisting of piezoelectric and magnetostrictive materials are promising candidates for application in magnetic field sensors, energy harvesters, and ME antennas. Conventionally, high-temperature annealing is required to crystallize piezoelectric films, restricting the use of heat-sensitive magnetostrictive substrates that enhance ME coupling. Herein, a synergetic approach is demonstrated for fabricating ME film composites that combines aerosol deposition and instantaneous thermal treatment based on intense pulsed light (IPL) radiation to form piezoelectric Pb(Zr,Ti)O<sub>3</sub> (PZT) thick films on an amorphous Metglas substrate. IPL rapidly anneals PZT films within a few milliseconds without damaging the underlying Metglas. To optimize the IPL irradiation conditions, the temperature distribution inside the PZT/Metglas film is determined using transient photothermal computational simulation. The PZT/Metglas films are annealed using different IPL pulse durations to determine the structure-property relationship. IPL treatment results in an enhanced crystallinity of the PZT, thus improving the dielectric, piezoelectric, and ME properties of the composite films. An ultrahigh off-resonance ME coupling (≈20 V cm<sup>-1</sup> Oe<sup>-1</sup> ) is obtained for the PZT/Metglas film that is IPL annealed at a pulse width of 0.75 ms (an order of magnitude higher than that reported for other ME films), confirming the potential for next-generation, miniaturized, and high-performance ME devices.