We demonstrate that magnetic properties of ultrathin Co films adjacent to Gd2O3 gate oxides can be directly manipulated by voltage. The Co films can be reversibly changed from an optimally oxidized state with a strong perpendicular magnetic anisotropy to a metallic state with an in-plane magnetic anisotropy or to an oxidized state with nearly zero magnetization, depending on the polarity and time duration of the applied electric fields. Consequently, an unprecedentedly large change of magnetic anisotropy energy up to 0.73 erg/cm(2) has been realized in a nonvolatile manner using gate voltages of only a few volts. These results open a new route to achieve ultralow energy magnetization manipulation in spintronic devices.