The perpendicular magnetic anisotropy (PMA) properties of Pt/Co/MgO trilayers are investigated as a function of the MgO sputtering power (PMgO) and its thickness (tMgO), both of which are important parameters affecting the degree of oxygen interpenetration into Co during sputtering. A strong PMA is achieved at small values of PMgO and tMgO, where the oxygen interpenetration into Co is expected to be small. The range of oxygen interpenetration is relatively extended in such a way that it affects both the Pt/Co and Co/MgO interfaces. The PMA properties of as-deposited samples are improved by post-annealing for temperatures up to 400 °C examined in this study, probably due to the diffusion of the interpenetrated oxygen atoms toward the Co/MgO interface. In a structure of Pt/Co (0.6 nm)/MgO (2 nm), which is fabricated at PMgO = 50 W and then annealed at 400 °C, a huge saturation field is achieved (over 40 kOe) indicating a very strong PMA. Between the two interfaces of Pt/Co and Co/MgO, the PMA is mainly due to the former in the as-deposited state, but the contribution of the latter increases with the increase in the annealing temperature.