Rare‐earth borides have become very popular in recent decades with high mechanical strength, melting point, good corrosion, wear, and magnetic behavior. However, the production of these borides is very challenging and unique. The production of ErB4 and NdB4 nanopowders via mechanochemical synthesis (MCS) is reported in this study first time in the literature. Er2O3 or Nd2O3, B2O3, and Mg initial powders are mechanically alloyed for different milling times to optimize the process. Rare‐earth borides with MgO phases are synthesized, then MgO is removed with HCl acid. The nanostructured rare‐earth tetraboride powders are analyzed using X‐ray diffraction (XRD). Based on the XRD, ErB4 powders are produced successfully at the end of the 5 h milling. However, the NdB4 phase does not occur as the stoichiometric ratio, so the B2O3 amount is decreased to nearly 35 wt%. When the amount of B2O3 is decreased to 20 wt%, NdB4 and NdB6 phases are 50:50 according to the Rietveld analysis. However, a homogenous NdB4 phase is obtained with 30 wt% loss of B2O3. The average particle sizes of ErB4 and NdB4 powders are nearly 100.4 and 85.6 nm, respectively. The rare‐earth tetraborides exhibit antiferromagnetic‐to‐paramagnetic‐like phase transitions at 18 and 8.53 K, respectively.