The　hot　pressing　and　hot　deforming　Nd2Fe14B/α-Fe　nanocomposites　were　produced　by　Spark　Plasma　Sintering　technique.　Effects　of　pressing　conditions　of　the　microstructure　and　magnetic　properties　of　the　magnets　were　investigated.　The　results　show　that　with　the　increase　of　hot　press　temperature,　the　density　and　the　remanence　of　the　magnets　increase,　while　the　coercivity　decreases　gradually,　which　leads　to　the　rising　of　the　energy　at　first　and　then　decreasing.　The　maxium　was　at　94.7　kJ/m3.　After　hot　deformation,　the　axis　of　Nd2Fe14B　crystalline　turned　parallel　to　the　direction　of　compressive　pressure,　thereby　the　magnetic　anisotropic　magnets　were　gained.　However,　the　grain　size　became　quite　large　due　to　high　deforming　temperature,　therefore,　the　magnetic　properties　reduced　sharply　accordingly.