The preparation method of magnetically soft ferrite magnet includes the following steps: in deionized water adding (wt%) 5-30% of mixture of ethylol methacrylate and tetraglycol diacrylate (according to the mixing weight ratio of 10-50:1), 0-20% of water-soluble macromolecular material, 3-20% of dispersing agent and 0.17-2% of initiating agent, mixing them and preparing them into monomer solution, adding the magnetically soft ferrite powder into monomer solution, mixing them to obtain suspension system, pouring the suspension system into foring mould, heating, heat-insulating, demoulding and drying so as to obtain the invented product. The described monomer aqueous solution is non-toxic, and the ammonium persulfate can be adopted as initiating agent.