There is provided a process for preparing a ferromagnetic material, wherein at least 2 kinds of paramagnetic compounds preferably organic paramagnetic compounds, capable of manifesting a so-called mesophase between a solid phase, and a liquid phase are mixed with each other in a liquid phase or mesophase state. Preferred paramagnetic compounds are compounds containing a paramagnetic metal complex moiety in the molecular skeleton thereof, and a preferred complex moiety is a porphyrin complex. Preferred metal nuclei are Cu, V, Co, Mo, Ag, and Fe. The planes of the molecules of each of the paramagnetic metal porphyrin complexes in a mesophase thereof are oriented in parallel with each other on a time-average basis.