The NdFeB magnets service in high-power electric-mechanical conversion devices sometimes endure high stress and high-temperature impact, and adhesion of these magnets using glue cannot ensure the reliability. In this study, the NdFeB was induction brazed with physical vapor deposition (PVD)-deposited Ag72Cu28 alloy layer, then the microstructure, mechanical properties and magnetic properties of the brazed joints were characterized, and effects of the filler metal thickness and the induction heating time were analyzed. The results show that the PVD coating can effectively prevent the surface oxidation of the NdFeB. The AgCu filler metal penetrates into the NdFeB and is partly mixed with the liquefied Nd-rich intergranular phase of the NdFeB, forming a good metallurgical bonding. The thickness of the penetration layer increases obviously with increase of the heating time and filler metal thickness. The bonding strength of the NdFeB brazed joint increases firstly and then decreases with increasing heating time, and a peak bending strength of 196.94 MPa was obtained. Fracture of the brazed joint occurs inside the NdFeB substrate close to the penetration layer. After a further annealing, the coercivity of the brazed NdFeB sample is a little higher than that of the un-brazed sample, and the squareness decreases by only a little. Properties of the brazed joints might be further improved by optimizing the amount of filler metal and the induction heating parameters.