Neodymium-iron-boron (Nd-Fe-B) sintered magnets have excellent magnetic properties such as the remanence, coercive force, and the maximum energy product compared to other hard magnetic materials. The coercive force of Nd-Fe-B sintered magnets is improved by the addition of heavy rare earth elements such as dysprosium and terbium instead of neodymium. Then, the magnetocrystalline anisotropy of Nd-Fe-B sintered magnets increases. However, additional elements have increased the production cost of Nd-Fe-B sintered magnets. Hence, a study on the control of the microstructure of Nd-Fe-B magnets is being conducted. As the coercive force of magnets improves, the grain size of the Nd2Fe14B grain is close to 300 nm because they are nucleation-type magnets. In this study, fine particles of Nd-Fe-B are prepared with various grinding energies in the pulverization process used for preparing sintered magnets, and the microstructure and magnetic properties of the magnets are investigated.