Starting ingot of $Pr_{15}Fe_{77}B_{8}$ were prepared by vacuum induction melting under argon atmosphere. The ingot were induction melted in a quartz crucible and then ejected as a molten alloy throuth a 0.6 mrn orifice onto a rotating cop¬per wheel. An anisotropic magnet was prepared from ribbon by hot deformation techniques. A fully dense precursor magnet first made by pressing ribbons at $680^{circ}C$ under a pressure of $21.8;kg/mm^{2}$. A substantially oriented magnets were obtained by die-upset under various conditions. As the compression ratio increases, the $B_{r}$ value increases pronouncedly though $_{i}H_{c}$ decreases. Also, XRD analyses show increased diffraction peak from (006). From these results, it can be known that the magnetic easy axis was formed along the compression axis. As the die-upset speed increases, $_{i}H_{c}$ increases though $B_{r}$ decreases. The $B_{r}$ increases up to $750^{circ}C$ of die-upset temperature and above this temperature decreases. The value of $4{pi}M_{s}$ of the $Pr_{15}Fe_{77}B_{8}$ alloy prepared is found to be 11.8 KG. When the alloy was compressed by 0.8 under the die-upset speed of 0.05 m/sec at $750^{circ}C$, $B_{r}$ was 11.0 KG indicating that the alloy has excellent magnetic anistropy. However, this alloy has some limitation because of low $_{i}H_{c}$.