The function of disproportionation and desorption stages of hydrogenation-disproportionation-desorption-recombination(HDDR) process in the formation of magnetic anisotropy was studied. The results showed that degree of anisotropy (DOA) ofNd12Fe80B7 induced by appropriate HDDR process is comparable with that of Nd13Fe80-xB7M1 (M=Co, Zr or Ga), however, the moder-ate coercive force of Nd13Fe80B7 magnetic powder led to an undesirable (BH) of 104 kJ/m3 in bonded magnet. Experiments demon-strated that a relatively short disproportionation time, combined with a high desorption temperature and slow desorption rate, duringHDDR process is beneficial to anisotropy attainment, but HDDR Nd13Fe80B7 magnetic powder becomes isotropic if the dispropor-tionation time is longer than a certain period. This phenomenon strongly indicated that the origin of anisotropy in NdFeB-typeHDDR material is contributed by disproportionation stage. XRD (X-ray Diffraction) analysis and TEM (Transmission Electron Mi-croscope) observation told that no other phase except NdH2, α-Fe and Fe2B has been found in the disproportionation step. The for-mation of HDDR Nd13Fe80 B7 anisotropy might be related to the early lamella disproportionation structure.