An oscillatory behavior of the tilting angle of magnetization as a function of film thickness at low temperatures is reported for the Fe films grown on Ag(1,1,10). A competition between magnetocrystalline anisotropy and magnetic shape anisotropy tilts the magnetization from the surface plane toward the terrace plane when the magnetization is oriented perpendicular to the step edges. The tilting angle changes with the variation in the magnetocrystalline anisotropy. The oscillation period is exactly the same as for the oscillations of the in-plane anisotropy.