The flattening of FeSiAl soft magnetic powder was achieved by ball milling process, and MnZn/FeSiAl composite magnetic powder core was prepared by press molding. The effect of different coating amount of MnZn ferrite on the soft magnetic properties of FeSiAl was studied. At the same time, the optimal stress-relieving annealing temperature of the composite magnetic powder core is revealed. The results showed that the addition of MnZn ferrite affected the magnetic properties such as saturation magnetization (Ms), initial permeability (mu i) and power loss (Pcm) of FeSiAl soft magnetic. With the increase of MnZn ferrite addition content, the saturation magnetization of composites decreased gradually, and the magnetic permeability increased first and then decreased, and the loss decreased first and then increased. When the addition content of MnZn ferrite was 5%, the permeability reached the maximum, which was 28.1% higher than that of the pure FeSiAl magnetic powder core under the same conditions. At the same time, the loss was the lowest, which was 13.3% lower than the pure FeSiAl powder core under the same conditions. When the annealing temperature is around 650 degrees C, the magnetic powder core has the largest magnetic permeability and the lowest loss.