X-ray diffraction and polarized neutron diffraction measurements have been made on metallic glass Co81.5 B18.5. The partial structure factors, Sij(Q), and partial reduced RDF, Gij(r), are obtained by applying two different data analysing procedures, these results are compared in conjunction with the experiment done by other workers. The neutron scattering intensity of a simple model has been simulated, and the structure model of this glass is finally discussed.