When an external magnetic field is applied parallel to the film surface of a magnetic fluid film, a high-quality one-dimensional periodic chain structure is formed when the field strength reaches a certain level. With a periodic chain structure in the magnetic fluid film, an incident light is diffracted onto the magnetic thin film. The results show that the one-dimensional periodic chain structure in the magnetic fluid film can serve as an optical grating. Further investigations reveal the feasibility of developing tunable coarse wavelength-division multiplexing by utilizing a periodic chain structure.