Abstract: The properties of a new magnetic composite which consists of rapid quenching NdFeB magnetic powder and magnetic polymer (OPM) were studied and contrasted with the one of the bonded NdFeB permanent magnet by nonmagnetic polymer, such as epoxy resin. The results show that when the percentage of NdFeB magnetic powder of the magnetic composite increases, the residual flux density Br, the maximum energy product (BH)m and the coercive force Hbc increase, but the intrinsic coercive force Hjc decreases a little. However, when the rapid quenching NdFeB powder in the OPM bonded NdFeB magnet is as much as the one in epoxy resin bonded NeFeB magnet, the magnetic properties Br, (BH)m and Hbc of the former are higher than those of the latter, and the stability of temperature of the former is the same as the latter.