Permanent magnets were produced from annealed alloys using the hydrogenation, disproportionation, desorption and recombination (HDDR) process. The influence of Pr concentration on the magnetic properties of these magnets was studied. Under the present processing conditions Pr has a significant influence on the magnetic behaviour of these magnetic materials. Microstructural examinations revealed that free iron was completed eliminated from all studied alloys with annealing and the grain size changed somewhat with praseodymium content. It has also been shown that to obtain bonded magnets with optimum magnetic properties the praseodymium content in these alloys should be around 13.5 at%.