Anisotropic Nd-Fe-B magnets were fabricated by the single stage hot deformation (SSHD) method. The magnetic properties of the anisotropic Nd-Fe-B magnets are as follows: the maximum energy product is 234.7 kJ·m-3, remanence 1.16 T and coercivity 684.3 kA·m-1. A study of the relationship between microstructure and magnetic properties for the anisotropic Nd-Fe-B magnets was carried out. The results show that the grains of Nd2Fe14B have grown up preferentially along the direction perpendicular to the pressing direction.