Flash spark plasma sintering (flash SPS) is an attractive method to obtain Nd–Fe–B magnets with anisotropic magnetic properties when starting from melt‐spun powders. Compared to the benchmark processing route via hot pressing with subsequent die upsetting, flash SPS promises electroplasticity as an additional deformation mechanism and reduced tool wear, while maximizing magnetic properties by tailoring the microstructure—fully dense and high texture. A detailed parameter study is conducted to understand the influence of Flash SPS parameters on the densification and magnetic properties of commercial MQU‐F powder. It is revealed that the presintering conditions and preheating temperature before applying the power pulse play a major role for tailoring grain size and texture in the case of hot deformation via Flash SPS. Detailed microstructure and magnetic domain evaluation disclose the texture enhancement with increasing flash SPS temperature at the expense of coercivity. The best compromise between remanence and coercivity (1.37 T and 1195 kA m−1, respectively) is achieved through a combination of presintering at 500 °C for 120 s and preheating temperature of 600 °C, resulting in a magnet with energy product (BH)max of 350  kJm−3. These findings show the potential of flash SPS to obtain fully dense anisotropic nanocrystalline magnets with high magnetic performance.

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