Method of producing sintered rare earth magnetic alloy wafer

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A method of producing a sintered rare earth magnetic alloy wafer comprises a step of using a cutter to slice a wafer of a thickness of not greater than 3 mm from a sintered rare earth magnetic alloy having ferromagnetic crystal grains surrounded by a more readily grindable grain boundary phase and a step of surface-grinding at least one cut surface of the obtained wafer with a grindstone to form at a surface layer thereof flat ferromagnetic crystal grain cross-sections lying parallel to the wafer planar surface. The method enables high-yield production of a sintered rare earth magnetic alloy wafer having flat surfaces.