Abstract: The process for the preparation of an oxide magnetic compact of the invention comprises:a step of preparing a mixed material which comprises 44 to 50 mole % of iron calculated as Fe.sub.2 O.sub.3, 0.1 to 8 mole % of manganese calculated as Mn.sub.2 O.sub.3, with the sum of iron and manganese being 50 to 54 mole % calculated as Fe.sub.2 O.sub.3 and Mn.sub.2 O.sub.3, 20 to 38 mole % of magnesium calculated as MgO, 17 to 22 mole % of zinc calculated as ZnO and not more than 5 mole % of copper calculated as CuO, anda step of molding the aforesaid mixed material to a predetermined shape and then firing it in an atmosphere of low oxygen concentration of 2.5 to 12% by volume. Therefore, there appears an extremely excellent effect that the oxide magnetic compact having excellent electromagnetic properties can be obtained at low cost.