This study suggests the new ultraprecision finishing techniques for micro die and mold parts using magnetic field-assisted polishing. Conventional magnetic abrasives have several disadvantages, which are missing of abrasive particle and inequal mixture between magnetic particle and abrasive particle. Therefore, bonded magnetic abrasive particles are fabricated by several method. For example, plasma melting and direct bonding. Carbonyl iron powder is used as magnetic particle there silicon carbide and alumina are abrasive particles. Developed magnetic abrasives are analyzed using SEM. Feasibility of magnetic abrasive and polishing performance of this magnetic abrasive particles also have been investigated. After polishing, surface roughness of workpiece is reduced from 85.4 ㎚ Ra to 9 ㎚ RA.