Ternary carbide, Fe3Mo3C was prepared from the powder mixture of Fe/Mo/C = 1/1/1 which was ground for 3 h in a planetary ball mill and subsequently heated at a temperature as low as 700 degreesC, its amount increased with heating temperature. In contrast, when the 1 h-ground and unground samples were heated at 700-1000 degreesC, Mo2C formed. From the results obtained about the effect of mixing ratio, grinding time and heating temperature of Fe/Mo/C samples on the formation of Fe3Mo3C, it was found that the formation of Fe3Mo3C strongly depends on the mixing homogeneity and the activated state of the particles of Fe, Mo and C components induced by mechanical grinding. Fe3Mo3C obtained belongs to a hard magnet, having saturation magnetization of 0.4 emu g(-1), remanence of 0.13 emu g(-1) and coercivity of 200 Oe.