The invention relates to the preparation of fine ferromagnetic particles by electrodeposition of iron, nickel, cobalt, or mixtures of these metals, in a dialkyl sulfoxide bath, such as dimethyl sulfoxide, the particles produced at the electrode being removed at desired intervals. Heat-stable organic binders may be dissolved in the plating bath during electrodeposition to coat the formed particles and thereby inhibit surface oxidation and agglomeration. The particles are oblong in shape and, coated or uncoated, are especially useful for magnetic recording media, magnetic cores, magnetically responsive fluid suspensions and permanent magnets.