The effect of both single- and two-step direct current (DC) annealing procedures on the magnetic properties including giant magneto-impedance (GMI) of glass-coated Co66Fe6Si13B15 amorphous wires was evaluated. The GMI ratio initially increased with current intensity and reached a peak value before declining at higher current intensities for both methods. A maximum improvement of the GMI ratio by about 5 times was obtained for the two-step DC annealed sample, while that for single-step DC annealed samples was only 2.44 times. A higher GMI sensitivity is also observed for the two-step DC annealed wires. The better GMI performance for two-step DC annealed samples was attributed to the more homogeneously distributed precipitations in the matrix and ordered circumferential magnetic domains on the surface. The obtained result further implies that DC annealing with higher current intensity but shorter treatment time is a more efficient and energy-saving method to enhance the GMI performance for the Co-based amorphous wires with respect to potential industrial application.