Manufacture of 2:17 Sm-Co magnets by powder injection molding was investigated. The binder of thermoplastic polymer was selected as the wax-based system including paraffin wax, stearic acid and high density polyethylene. Before mixing with paraffin wax and high density polyethylene, the powder of 5-8 µm was coated by stearic acid. The molding compacts were obtained under 200°C without deficits. Solvent debinding and thermal debinding were combined to remove the binder. The basic magnetic characteristics of the specimen were of the same level as those by powder metallurgy technique, which indicated that to fabricate 2:17 Sm-Co magnets by powder injection molding was feasible.