Anisotropic SmCo5/Co nanocomposite powders have been prepared by electroless Co deposition on commercial SmCo5 powders with hydrazine as reducer.The Co particles are mainly in the range of 8-27 nm and form dense/continuous soft magnetic coatings on the surface of SmCo5 powders.Exchange coupling happened between the coated Co soft magnetic particles and the SmCo5 hard phase.As a result,SmCo5/Co nanocomposite powders with remanence of 73.58 emu/g and energy product of 13.74 MGOe were obtained in the optimum condition,as compared with those of 70.52 emu/g and 13.40 MGOe for uncoated SmCo5 powders.The effects of Co adding amount on Co particle size,coating morphology,and magnetic properties of SmCo5/Co products were investigated.