Research　on　the　recycling　of　NdFeB　magnets　has　received　more　and　more　attention,　however,　it　is　uncertain　whether　the　recycling　technology　can　really　bring　environmental　benefits　in　the　initial　stage.　The　ReCiPe　evaluation　method　was　adopted,　and　producing　1　kg　of　bonded　NdFeB　magnets　was　selected　as　the　functional　unit　to　evaluate　and　compare　the　environmental　impacts　of　the　production　and　recycling　processes　of　bonded　NdFeB　magnets,　respectively.　Results　show　that　the　environmental　hot　spot　in　the　production　process　of　bonded　NdFeB　magnets　is　in　the　smelting　stage,　and　the　environmental　impact　is　mainly　generated　by　neodymium　and　electricity.　The　environmental　hot　spots　in　the　recycling　process　of　bonded　NdFeB　magnets　are　in　the　organic　removal　stage　and　the　hot-pressing　curing　stage,　and　the　environmental　impact　is　mainly　generated　by　sodium　hypochlorite　and　electricity.　For　the　manufacture　of　1kg　bonded　NdFeB　magnets,　the　environmental　damage　to　human　health　and　ecosystem　diversity,　and　resource　depletion　by　the　production　process　is　158.　40%,　180.　63%,　and　63.　37%　of　the　recycling　process,　respectively.　©　2024　Beijing　University　of　Technology.　All　rights　reserved.