In this paper, we report the correlation between the magnetic property and the local structure in BaY͑Cu 0.5 Fe 0.5 ͒ 2 O 5ϩ␦ of the ''0112'' phase containing an unusually large amount of excess oxygen, ␦ of ϳ0.2, when heat treated under a high pressure of 5 GPa. Magnetic susceptibility measurements showed that upon the high-pressure heat treatment, the lower-temperature magnetic transition which had been observed in normal-pressure synthesized, antiferromagnetic BaY͑Cu 0.5 Fe 0.5 ͒ 2 O 5 disappeared and the higher-temperature transition, i.e., the Néel temperature, was lowered. According to a Rietveld analysis based on x-ray-diffraction data and space group P4/mmm, the distinction between Cu and Fe positions along the c axis inside the oxygen pyramid disappeared. Coulometric titrations and Mössbauer spectroscopy measurements strongly suggested the existence of excess oxygen in the yttrium plane. ͓S0163-1829͑98͒03329-3͔