Recycling of Nd–Fe–B magnets is an ongoing challenge regarding circular economy. State‐of‐the‐art magnet production methods, such as hot deformation, have limitations with respect to direct recycling of magnet scrap particles that differ from pristine melt‐spun Nd–Fe–B powder. Recent work has shown that a combination of presintering by field‐assisted sintering technology/spark plasma sintering (FAST/SPS) and hot deformation by flash spark plasma sintering (flash SPS) has the potential to directly produce Nd–Fe–B magnets from 100% scrap material. Both processes have the capability to adjust and monitor process parameters closely, resulting in recycled magnets with properties similar to commercial magnets but made directly from crushed and recycled Nd–Fe–B powder that partially or completely replaces pristine melt‐spun Nd–Fe–B powder. Herein, a systematic study is done inserting recycled magnet particles into a flash SPS deformed magnet, considering the effects of different weight percentages of scrap material of varied particle size fractions. In some cases, coercivity HcJ of >1400 kAm−1 and remanence Br of 1.1 T can be achieved with 20 wt% scrap material. The relationship between particle size fraction, oxygen uptake, and percentage of recyclate in a final magnet are all explored and discussed with respect to magnets made from pristine material.