Magnetic properties of composites prepared by coating lacquer containing neodymium iron boron (Nd-Fe-B) powders on rubberwood were characterized by vibrating sample magnetometry (VSM), magnetic moment measurements, and attraction tests with an iron-core solenoid. The Nd-Fe-B powders were recycled from electronic wastes by the ball-milling technique. Varying the milling time from 20 to 300 min, the magnetic squareness and the coercive field of the Nd-Fe-B powders were at the minimum when the powders were milled for 130 min. It followed that the coercive field of the magnetic wood composites was increased with the milling time increasing from 130 to 300 min. For the magnetic wood composites using Nd-Fe-B obtained from the same milling time, the magnetic squareness and the coercive field were rather insensitive to the variation of Nd-Fe-B concentration in coating lacquer from 0.43 to 1.00 g/cm3. By contrast, the magnetization and magnetic moment were increased with the Nd-Fe-B concentration increasing. Furthermore, the electrical current in the solenoid required for the attraction of the magnetic wood composites was exponentially reduced with the increase in the amount of Nd-Fe-B used in the coating.