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Self-healing materials are able to partially or completely reverse the damage inflicted on them. The possibility of self-healing mechanical and chemical failures that occur during service will improve the lifetime and reliability of structural materials. For this purpose, two main steps must be considered: (i) detection, and (ii) repairing (healing) of cracks. The exothermic character of reactive multilayers has potential for self-healing applications, namely in the healing step. In this context, Ni(V)/Al multilayer thin films were deposited onto tungsten wires by magnetron sputtering from two targets. A detailed microstructural characterization was carried out by scanning and transmission electron microscopy after deposition, as well as after ignition by applying an electrical discharge. The as-deposited films presented an irregular layered structure with local defects not observed for flat substrates, although Ni- and Al-rich nanolayers could be distinguished. The as-reacted films were constituted by Al3Ni2 grains with Al3V phase at the grain boundaries. In order to use reactive multilayers for self-healing purposes, the heat released must be maximised by improving the microstructure of the nanolayered films. Nevertheless, after ignition, the Ni(V)/Al multilayer films deposited onto W wire underwent a self-sustained reaction, releasing heat.