Purpose: This paper presents the material and technological solution which makes it possible obtaining functional composite materials based on the nanocrystalline Nd-Fe-Co-B powder with polymer matrix and shows the possibility of application in different branches of the techniques. Design/methodology/approach: For fabrication of composite materials: Nd-Fe-Co-B powder obtained by rapid quenched technique and for matrix -high density pressureless polyethylene (PEHD) and polyamide (PA12) (2.5 % wt.) were used. Composite materials were compacted by the one-sided uniaxial pressing. The complex relationships among the manufacturing technology of these materials, their microstructure, as well as their mechanical and physical properties were evaluated. Materialographic examination of the structure of composite materials and fractures after decohesion were made. Findings: The main purpose of obtaining this kind of composite materials is broadening possibilities of nanocrystalline magnetic materials application that influence on the miniaturization, simplification and lowering the costs of devices. Composite materials show regular distribution of magnetic powder in polymer matrix. Examination of mechanical properties show that these materials have satisfactory compression strength. Practical implications: The manufacturing of composite materials Nd-Fe-Co-B powder – polymer greatly expand the applicable possibilities of nanocrystalline powders of magnetically hard materials however further examination to obtain improved properties of magnetic composite materials and investigations of constructions of new machines and devices with these materials elements are still needed. Originality/value: Manufacturing processes of functional composite materials obtaining Nd-Fe-Co-B – polymer matrix and determination of their mechanical properties. Results are the base for further investigations such composite materials.