High-coercive (Nd,Dy)-Fe-B magnets were fabricated via dysprosium coating on Nd-Fe-B powder. The sputtering coating process of Nd-Fe-B powder yielded samples with densities greater than 98%. $(Nd,Dy)_2Fe_{14}B$ phases may have effectively penetrated into the boundaries between neighboring $Nd_2Fe_{14}B$ grains during the sputtering coating process, thereby forming a $(Nd,Dy)_2Fe_{14}B$ phase at the grain boundary. The maximum thickness of the Dy shell was approximately 70 nm. The maximum coercivity of the Dy sputter coated samples(sintered samples) increased from 1162.42 to 2020.70 kA/m. The microstructures of the $(Nd,Dy)_2Fe_{14}B$ phases were effectively controlled, resulting in improved magnetic properties. The increase in coercivity of the Nd-Fe-B sintered magnet is discussed from a microstructural point of view.