As a kind of precise surface finishing technology, magnetic abrasive finishing has wide application, low cost, high efficiency, good effects, and other advantages. Magnetic abrasive performance is one main factor affecting finishing effect and efficiency of magnetic abrasive finishing. By experiments, process and parameters of hot pressing sintering preparation are defined, its micro-structure and finishing performance are researched. The results show that magnetic abrasives prepared by hot pressing sintering process has good finishing performance, long service life, adaptability, and can effectively improve surface quality.