A new hot-forming process has been studied to produce anisotropic Nd-Fe-B based magnets from melt-spun ribbons. The ribbon fragments were inserted in a Cu tube and hot-deformed together with one-stroke. At a height reduction ratio of 0.44, the melt-spun ribbons were densified into a magnet with a density of 7.14 g/cm3, and showed a (BH)max of 14.6 MGOe. With further deformation, the magnets were plastically deformed with Cu tubes in the lateral direction, and crystallographic anisotropy was introduced. The magnets with a height reduction ratio of 0.75 exhibited magnetic properties of (BH)max = 32.1 MGOe, Br = 11.7 kG, and iHc = 10.6 kOe. This process shows the possibility that the conventional hot-pressing and subsequent die-upsetting for anisotropic magnets can be simplified into a one-step process.