The thermodynamics and kinetics of ethanol antisolvent crystallization of rare earths from sulfate solutions has been explored, with a view towards separating the rare earths as part of a NdFeB magnet recycling process. The solubility of single and binary metal (Nd, Pr, Fe) phases in aqueous ethanol solutions has been determined. The impact of Fe and Pr on the crystallization of Nd is evaluated, the oxidation kinetics of Fe(II) to Fe(III) quantified, and the influence of Fe oxidation state on the thermodynamics and kinetics of crystallization investigated. Oxidation to Fe(III) is slow, with a half life of approx. 600 h. For pure Nd, the solubility of the obtained, stable sulphate octahydrate decreases exponentially with increased molar organic:aqueous (O/A) ratio, and is well described by the OLI model until O/A=0.2. Pr crystallizes as an isostructural octahydrate with similar solubility. Fe(II) precipitates as a mixed solid phase, with a solubility approximately 40 times higher than the rare earths at O/A=0.2. Fe(III) solutions exhibit liquid–liquid phase separation without precipitation at all evaluated concentrations. Nd and Pr coprecipitate together in proportion to their relative concentrations, with Pr precipitating at concentrations well below its pure component solubility. Fe(II) does not precipitate with Nd at O/A≤0.2 even at high concentration, with significant precipitation as separate particles at higher O/A for all concentrations. The crystallization kinetics and the morphology of the Nd phase is affected by the Fe oxidation state. The work highlights the potential of antisolvent crystallization for selective and efficient separation of REE from Fe.