Provided are: a novel magnetic material having high magnetic stability, in particular, having an extremely high saturation magnetization; and a method for producing the same, wherein the magnetic material, due to having a higher saturation magnetization than ferrite magnetic materials and a higher electrical resistivity than existing metallic magnetic materials, resolves problems such as eddy current loss. According to the present invention, Co-ferrite nanoparticles obtained by wet synthesis are reduced in hydrogen and subjected to grain growth, and bcc- or fcc-(Fe, Co) phases and Co-enriched phases are nano-dispersed using phase separation via a disproportionation reaction to prepare a magnetic material powder. In addition, the magnetic material powder is sintered into a solid magnetic material.