In this work the effect of the ferromagnetic layer thickness on the interlayer exchange coupling in magnetic multilayers, which has rarely been considered so far, is investigated by employing the one-band tight-binding hole-confinement model. The numerical calculations for a simple cubic lattice show that although the oscillatory variation of coupling parameter J with the variation of non-magnetic layer thickness N has periods insensitive to the ferromagnetic layer thickness M, when M becomes smaller the amplitude and phase of such oscillations depend strongly on M, and J varies with M in an oscillatory-like fashion. Our theoretical results may be helpful in understanding the recent experimental data.