Effects of binder addition method during compacting on microstructural change and magnetic characteristics of Sr-ferrite system was investigated. Used binders were PVA and PEG, which were added separately or simultaneously. After compacts were heated at 50$0^{circ}C$ for 3hr in air for burning out all the binders, they were sintered at 125$0^{circ}C$ for 2h. Based on results, in the case of using the two binders simultaneously, comparing to single binder system, compacted density was somewhat higher but sintered density was rather lower, and abnormal grain growth was accelerated. According to these sintering characteristics, remanent magnetization and coercive force were also diminished.