Abstract <p>The qualitative and quantitative composition of NdFeB magnet have been determined, and the specific features of metal leaching with nitric acid solutions have been studied. Optimal conditions for the most complete metal leaching have been selected. For the extraction of a number of metals from the nitric acid leachate of neodymium magnets, a hydrophobic deep eutectic solvent composed of bis(2,4,4-trimethylpentyl)phosphinic acid (commercially known as Cyanex 272) and phenol has been proposed as an extractant. Experimental data on the extraction of Ni, Fe, Al, and Cu ions from model individual and mixed solutions using the BTMPPA/phenol deep eutectic solvent have been obtained by varying key process parameters, specifically, medium acidity, salting-out agent concentration, component ratio in the eutectic solvent, metal concentration, etc. The results obtained indicate the promising application of the BTMPPA/phenol deep eutectic solvent for the recovery of Ni, Fe, Al, and Cu cations in the processing of magnetic material waste.</p>