The invention provides a compression molding process for a bonding rare earth permanent magnet material. The process comprises the following steps of 1) preparing neodymium iron boron magnetic powderraw material; 2) oxidizing the magnetic powder raw material; 3) mixing the treated magnetic powder with a resin binder for agitation granulation; 4) conducting warm compaction on the magnetic powder after granulation; 5) obtaining the bonding rare earth permanent magnet material after heat curing; 6) conducting coupling agent impregnation and heat treatment. According to the process, specific permanent magnet alloy powder with limited proportion of each element is adopted, through compressing molding processes such as the special coupling agent impregnation treatment, the warm compaction, secondary oxidation treatment, special binder resin composition process for granulation and the like, the obtained bonding rare earth permanent magnet material has excellent properties of high temperatureresistance, humidity resistance, corrosion resistance and oxidation resistance, and under using environments of high temperature, high humidity, severe corrosion and the like, the process ensures thereliability and stability of the use of rare earth permanent magnet products.