High magnetic property Fe-50%Ni alloy was obtained by metal injection molding (MIM), hot isostatic pressing and subsequent heat treatment. The maximum permeability, saturation induction and coercive force are 112 mH m(-1), 1.58 T and 2.52 A m(-1), respectively. The maximum permeability far exceeds the reported value (22.36-42.50 mH m(-1)) of Fe-50%Ni produced by MIM. The relationships between processing parameters and density, microstructure and magnetic properties were investigated. The results revealed that magnetic performance was strongly influenced by density and microstructure. (C) 2013 Elsevier B.V. All rights reserved.