The coercivity mechanism of Nd-Fe-B magnets prepared by combination of strip-casting with hydrogen decrepitation techniques was investigated. The microstructure of (Nd0.935Dy0.065)14.5Fe79.4B6.1 magnet was observed. The average grain size is about 6～12 μm. The magnetizing field dependence of the hardmagnetic properties for the (Nd0.935Dy0.065)14.5Fe79.4B6.1 and the temperature dependence of the coercivity for the Nd14.5Fe79.4B6.1 were investigated. Results show that the coercivity for magnets prepared by the combination of strip-casting with hydrogen decrepitation techniques is controlled by the nucleation mechanism.