An aspect of the present invention relates to a method of manufacturing hexagonal ferrite magnetic powder. The method of manufacturing hexagonal ferrite magnetic powder comprises wet processing hexagonal ferrite magnetic particles obtained following acid treatment in a water-based solvent to prepare an aqueous magnetic liquid satisfying relation (1) relative to an isoelectric point of the hexagonal ferrite magnetic particles: pH0−pH*≧2.5, wherein, pH0 denotes the isoelectric point of the hexagonal ferrite magnetic particles and pH* denotes a pH of the aqueous magnetic liquid, which is a value of equal to or greater than 2.0, adding a surface-modifying agent comprising an alkyl group and a functional group that becomes an anionic group in the aqueous magnetic liquid to the aqueous magnetic liquid to subject the hexagonal ferrite magnetic particles to a surface-modifying treatment, and removing the water-based solvent following the surface-modifying treatment to obtain hexagonal ferrite magnetic particles.