The Hipernik alloy (50Ni50Fe wt. %) was obtained by mechanical alloying. The milling was performed in argon atmosphere, with a ball/powder mass ration of 8:1 for times ranging from 2 up to 20h. The alloy formation was studied by X-ray diffraction. The obtained structure is face cantered cubic, indicating the extension of the γ domain for the Ni-Fe alloys by mechanical alloying. The mean crystallite size was calculated with the Williamson – Hall method. Using scanning electron microscopy (SEM) the morphology and the chemical homogeneity of the powders was analysed. The technological properties of the powders as particle size distribution and flowability are determined as a function of the milling time. The magnetic behaviour of the samples was studied by magnetic measurements under high magnetic fields.