A highly dense, 4 mu m-thick Pb(Zr, Ti)O-3 (PZT) film is deposited on amorphous magnetostrictive Metglas foil (FeBSi) by granule spray in vacuum process at room temperature, followed by its localized annealing with a continuous-wave 560 nm ytterbium fiber laser radiation. This longer-wavelength laser radiation is able to anneal the whole of thick PZT film layer without any deteriorative effects, such as chemical reaction and/or atomic diffusion, at the interface and crystallization of amorphous Metglas substrate. Greatly enhanced dielectric and ferroelectric properties of the annealed PZT are attributed to its better crystallinity and grain growth induced by laser irradiation. As a result, a colossal off-resonance magnetoelectric (ME) voltage coefficient that is two orders of magnitude larger than previously reported output from PZT/Metglas film-composites is achieved. The present work addresses the problems involved in the fabrication of PZT/Metglas film-composites and opens up emerging possibilities in employing piezoelectric materials with low thermal budget substrates (suitable for integrated electronics) and designing laminate composites for ME based devices.