Neodymium iron boron (NdFeB) magnets, known for their superior magnetic properties, are pivotal in various high-performance applications, ranging from electric motors to wind turbines. The durability and reliability of these devices significantly depend on the mechanical integrity of NdFeB magnets under various stress conditions. In this work, the mechanical behavior and failure processes of NdFeB magnets are experimentally studied by in-door tests. We specifically examine the failure behavior of these magnets when subjected to dynamic loads, employing the Split Hopkinson Pressure Bar test both with and without initial loading perpendicular to the pressure bar direction. Furthermore, to complement the experimental findings, the experiments are numerically reproduced with a hybrid finite-discrete element method titled Continuous-Discontinuous Element Method (CDEM). Within the CDEM framework the Johnson-Holmquist 2 constitutive model is considered for the material under high strain rate loading conditions. Most material parameters are determined by experimental data and theoretical analysis. This research not only enhances our understanding of the properties of NdFeB magnets but also provides valuable insights for engineers and researchers aiming to improve the material’s resilience and durability.