In　this　paper,　the　microstructure　and　texture　formation　mechanism　of　nanocrystalline　anisotropic　Nd-Fe-B　magnets　prepared　by　a　one-step　heating　forward-extrusion　method　were　systematically　studied.　The　hot　extruded　(HE)　Nd-Fe-B　magnet　showed　the　same　heterogeneous　microstructure　characteristics　as　the　traditional　die-upsetting　magnet.　With　the　decrease　of　extrusion　width　(w1),　the　c-axis　texture　gradually　enhanced,　accompanied　by　an　increasing　proportion　of　fine-grain　region　and　the　improvement　of　the　ordered　arrangement　of　platelet　grains.　In　addition,　strong　c-axis　texture　was　formed　by　the　ordered　arrangement　of　platelet　grains　benefiting　from　the　difference　of　stress　distribution　caused　by　the　difference　of　side　length　of　the　extrusion　port.　By　adjusting　the　dimension　of　the　rectangle　extrusion　port,　the　magnetic　properties　of　HE　Nd-Fe-B　magnets　were　optimized.　The　optimized　magnetic　properties　with　(BH)(max)　of　241.3　kJ/m(3),　H-ci　of　1025.3　kA/m,　M(r　)of　0.94　MA/m　can　be　acquired　for　the　hot　extrution　(HE)　Nd-Fe-B　magnet　with　extrusion　width　(w1)　of　2.5　mm.　In　this　method,　the　demoulding　process　can　be　avoided　successfully　by　using　cold　pressing　instead　of　hot　pressing,　which　is　of　great　significance　for　continuous　and　high-volume　production.