The　difficulty　of　short-process　bonded　Nd-Fe-Bmagnetwaste　recycling　lies　in　the　effective　removal　of　the　cured　polymermatrix　while　protecting　the　magnetic　powder.　In　this　study,　the　polymermatrix　in　bonded　Nd-Fe-B　magnet　waste　was　destroyedusing　sodium　hydroxide　ethanol　solution,　and　the　effect　of　the　recyclingprocess　on　the　magnetic　powders　was　studied.　The　nonmagnetic　polymermatrix　was　removed,　while　the　magnetic　phase　was　not　destroyed.　Thecarbon　and　oxygen　contents　of　the　recycled　magnetic　powders　decreasedby　92.96　and　89.30%,　respectively,　while　the　M　(S)　(saturation　magnetization),　M　(r)　(remanence),　and　H　(cj)　(coercivity)　valuesof　the　recycled　magnetic　powders　were　99.8,　98.5,　and　95.9%　of　theoriginal　magnetic　powders,　respectively.　The　curing　and　decompositionprocesses　of　the　polymer　matrix　were　also　analyzed.　During　the　curingprocess,　dicyandiamide　and　bisphenol　A　epoxy　resin　acted　as　bridgesand　skeletons,　respectively,　finally　forming　a　thermosetting　three-dimensionalnetwork　structure.　In　the　alkaline　alcohol　solution,　the　bridges　andskeletons　were　destroyed　by　the　free　hydroxyl　groups　and　free　hydrogenradicals　in　ethanol,　and　small　molecular　products　were　dissolved　inthe　solution.