Hydrometallurgical process for the treatment of neodymium (Nd) magnets, comprising the following main stages: I. obtaining suitably pre-treated neodymium (Nd) magnet powder and separating nickel in solid form by leaching said powder with citric acid and subsequent filtration of the nickel from the solution; II. separating rare earth elements from the solution produced in the leaching stage by means of extraction with organic solvent and subsequent separation of the aqueous phase, containing iron ions, and organic phase; III. isolating by means of precipitation said rare earth elements in the form of phosphorus salts by stripping said organic phase with a solution of phosphoric acid, separation of the organic phase and aqueous phase and filtration of the precipitate from said last aqueous phase; IV. isolating by means of precipitation said iron ions in the form of oxalates by treating with oxalic acid the aqueous phase obtained from the organic solvent extraction stage and subsequent filtration of the precipitate; V. repeating stages I-IV for treatment of further neodymium (Nd) magnet powder so that the following conditions are satisfied: a) the solution obtained from separation of the iron (stage IV) is used for leaching of said further permanent magnet powder (Va), as such or after addition of citric acid; b) the organic solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for extraction with organic solvent (stage II) to be carried out on the liquid component produced from leaching (Vb); c) the aqueous solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for stripping of further organic phase (Vc). I. obtaining suitably pre-treated neodymium (Nd) magnet powder and separating nickel in solid form by leaching said powder with citric acid and subsequent filtration of the nickel from the solution; II. separating rare earth elements from the solution produced in the leaching stage by means of extraction with organic solvent and subsequent separation of the aqueous phase, containing iron ions, and organic phase; III. isolating by means of precipitation said rare earth elements in the form of phosphorus salts by stripping said organic phase with a solution of phosphoric acid, separation of the organic phase and aqueous phase and filtration of the precipitate from said last aqueous phase; IV. isolating by means of precipitation said iron ions in the form of oxalates by treating with oxalic acid the aqueous phase obtained from the organic solvent extraction stage and subsequent filtration of the precipitate; V. repeating stages I-IV for treatment of further neodymium (Nd) magnet powder so that the following conditions are satisfied: a) the solution obtained from separation of the iron (stage IV) is used for leaching of said further permanent magnet powder (Va), as such or after addition of citric acid; b) the organic solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for extraction with organic solvent (stage II) to be carried out on the liquid component produced from leaching (Vb); c) the aqueous solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for stripping of further organic phase (Vc). a) the solution obtained from separation of the iron (stage IV) is used for leaching of said further permanent magnet powder (Va), as such or after addition of citric acid; b) the organic solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for extraction with organic solvent (stage II) to be carried out on the liquid component produced from leaching (Vb); c) the aqueous solution produced at the end of the stripping process with phosphoric acid (stage III) is used in the stage for stripping of further organic phase (Vc).