Alternating germanosilicate-siliconoxide layers of 10-30 nm thickness were grown on Si substrates by plasma enhanced chemically vapor deposition (PECVD). The compositions of the grown films were determined by X-ray photoelectron spectroscopy measurements. The films were annealed at temperatures varying from 670 to 1000°C for 5 to 45 minutes under nitrogen atmosphere. High resolution cross section TEM images, electron diffraction and electron energy-loss spectroscopy as well as energy-dispersive X-ray analysis (EDAX) data confirm presence of Ge nanocrystals in each layer. The effect of annealing on the Ge nanocrystal formation in multilayers was investigated by Raman spectroscopy and Transmission Electron Microscopy (TEM). As the annealing temperature is raised to 850°C, single layer of Ge nanocrystals observed at lower annealing temperatures is transformed into a double layer with the smaller sized nanocrystals closer to the substrate SiO2 interface.