Investigating the damping processes and the behavior of dynamic magnetic properties in ferromagnetic thin films has been an important key towards design and fabrication of different microwave and magnetic recording devices. This thesis discusses the dynamic magnetic properties and also the physics behind different relaxation mechanisms in ferromagnetic thin films using comprehensive experimental investigations by means of broadband ferromagnetic resonance (FMR) technique. In chapter one the basics of ferromagnetic resonance technique and the experimental features of the FMR setup used in this study are discussed, also the FMR data analysis is explained. Chapter two is devoted to the study of the interfacial perpendicular magnetic anisotropy (PMA) and damping parameter in Co2FeAl thin films. In chapter three broadband temperature dependent FMR measurements were carried out on Ni80Fe20/Gd thin films to investigate the behavior of ferromagnetic relaxation, and gyromagnetic ratio as the system goes through the Curie temperature of Gd. In chapter four, the ferromagnetic relaxation mechanisms in ferrites are discussed. The low loss Nikel Ferrite and Lithium ferrite single crystal, thin and ultra-thin films were characterized by detailed FMR measurements to investigate the effect of microstructural defects on the magnetization relaxation. A comprehensive study on the interlayer exchange coupling strength in Co90Fe10/Ru/ Co90Fe10 multilayers is the subject of chapter five, in which the mutual spin pumping is discussed as a recently discovered channel for relaxation in exchange coupled multilayers.