Microstructure　and　magnetic　properties　of　hot　deformed　SmCo5　nanocrystalline　magnet　prepared　from　amorphous　precursors　are　investigated.　Hot　pressed　magnet　as　a　precursor　of　the　hot　deformed　magnet　is　amorphous.　After　hot　deformation　process,　the　SmCo5　magnet　with　85%　height　reduction　exhibits　CaCu5　crystal　structures　and　the　strong　c-axis　textures.　Moreover,　the　hot　deformed　SmCo5　magnet　bears　magnetic　properties　of　H-ci　=　31.4　kOe,　M-r　=　6.42　kG,　(BH)(max)　=　10.1　MGOe,　and　the　remanence　ratio　of　the　magnet　is　as　high　as　0.87　due　to　the　strong　c-axis　textures.　In　addition,　fracture　morphology　shows　that　grains　of　the　hot　deformed　magnet　are　plate　shaped　with　an　average　grain　size　of　200　nm　in　thickness　and　800　nm　in　diameter.　Furthermore,　the　grain　size　of　the　magnet　from　transmission　electron　microscopy　(TEM)　observation　has　a　good　agreement　with　the　scanning　electron　microscopy　results.　The　TEM　results　also　show　that　a　lot　of　Sm-rich　Sm-Co　precipitate　particles　with　a　size　less　than　50　nm.　These　precipitate　particles　could　act　as　pinning　sites　leading　to　high　coercivity.