Investigation into the magnets with different squareness of hysteresis loop (SHL) reveals that the microstructure of sintered NdFeB magnets has great effects on the SHL of the magnets. The abnormal grain growth deteriorates the SHL seriously. The shape of the grain and the grain boundary affect the intensity of demagnetization field, and consequently on the SHL. The added elements have effects on the phase structures and distributions in the magnets, which influences the uniform of demagnetization field.