For those who are just starting, the author (Tanenbaum) also wrote a book called Operating Systems: Design and Implementation, which is a great resource for learning the ins and outs of OSs. But it is a necessity to know C beforehand, and you should have a reasonable understanding of basic CS first, also.
Edit 2: Oh, also, Minix is in a lot of ways responsible for the genesis of Linux, for those who didn't know. [http://groups.google.com/group/comp.os.minix/msg/b813d52cbc5...]