The invention relates to a machining device and method of threaded tile-shaped magnetic steel. The machining device of the threaded tile-shaped magnetic steel comprises a grinding machine and an abrasion wheel rotationally connected to the grinding machine; a pushing device is additionally arranged on the grinding machine and located below the abrasion wheel; the pushing device comprises a base, and a loading rod is additionally arranged on the base; a fixing assembly used for fixing the tile-shaped magnetic steel is arranged on the loading rod; and a driving assembly used for driving the loading rod to horizontally move and rotate is additionally arranged on the loading rod. By arranging the pushing device, the tile-shaped magnetic steel can be easily and conveniently ground, thus an operator enables the pushing device to horizontally move and rotate through the driving assembly, and the machining efficiency is improved greatly.