We present fabrication of a novel (Nd0.7Ce0.3)10.5Fe83.9 B5.6magnetic powder and SU-8, UV patterened micromagnets. The magnetic powder with an averge particle size of 5μm-6μm has been prepared from an alloy ingot of raw materials which are put in a vacuum induction furnace, melt spun to obtain ribbons with nanocrystalline microstructure, further the ribbons are crushed using vibrating ball milling under intert atmosphere to obtain coarse powder (average particle size of 200μm). In order to obtain 5μm fine powder the course powder is jet milled at 6000rpm under inert atmosphere. The fine (Nd0.7Ce0.3)10.5Fe83.9 magnetic powder (refered to as MQFP-15) was ultrasonically uniformy dispersed in SU8 3010 using a horn tip probe operating at a frequency of 24 kHz. Micromagnets (length of 5mm, width 200 μm, height 30μm) are fabricated from the prepared composite via UV lithography and were tested usigng a SQUID magnetometer showed a remanent magnetization (Mr) of 62.80 emu/g and Coercivity (Hc) of 5290 G at 72 weight percentage of magnetic powder in PDMS matrix.