Abstract: The present invention provides a compound powder for making magnetic powder cores, a kind of magnetic powder core, and a process for making them. Said compound powder is a mixture composing of powder A and powder B, the content of powder A is 50-96 wt % and the content of powder B is 4-50 wt %, wherein powder A is at least one selected from iron powder, Fe—Si powder, Fe—Si—Al powder, Fe-based nanocrystalline powder, Fe-based amorphous powder, Fe—Ni powder and Fe—Ni—Mo powder; powder B bears different requirement characteristics from powder A and is at least one selected from iron powder, Fe—Si powder, Fe—Si—Al powder, Fe-based nanocrystalline powder, Fe-based amorphous powder, Fe—Ni powder and Fe—Ni—Mo powder. Said powder B adopts Fe-based amorphous soft magnetic powder with good insulation property as insulating agent and thus core loss of magnetic powder core decreases.