Laser welding has been considered as a promising method to join sintered NdFeB permanent magnets thanks to its high precision and productivity. However, the influences of laser welding on the magnetic property of NdFeB are still not clear. In the present paper, the effects of laser power on the remanence (Br) were experimentally investigated in laser spot welding of a NdFeB magnet (N48H). Results show that the Br decreased with the increase of laser power. For the same welding parameters, the Br of magnets, that were magnetized before welding, were much lower than that of magnets that were magnetized after welding. The decrease in Br of magnets after laser welding resulted from the changes in microstructures and, in turn, the deterioration of magnetic properties in the nugget and the heat affected zone (HAZ) in a laser weld. It is recommended that the dimensions of nuggets and HAZ in laser welds of a NdFeB permanent magnet should be as small as possible, and the magnets should be welded before being magnetized in order to achieve a better magnetic performance in practical engineering applications.