Disclosed herein is a method for the production of an anisotropic magnetic powder or a magnet produced from said powder, wherein a hydrogenating and dehydrogenating method is applied to the starting material in order to produce the powder. An anisotropic oriented magnetic material, more particularly magnetic scrap metal, is advantageously used as starting material so that the complicated use of a molten mass with isotropic distribution of the c axes of the hard metal crystals is not required. The result is an anisotropic material having a fine grain structure and a crystallographic orientation matching a TMXB phase formed during hydrogenation.