The possibility and feasibility of atomic-emission spectral analysis in serial production of permanent magnets based on rare earth alloys has been proved. The application of microwave plasma method in the analysis of the chemical composition of alloys based on rare-earth metals has been argued and substantiated. A preproduction model of a spectrometer was created. The method of component analysis Sm-Co system alloys was developed, certified and implemented in the production process of «Spetsmagnit» JSC. Standard samples with the chemical composition of the Sm-Co system alloy were manufactured and certified. The dependence of magnetic parameters of magnetic material samples on the original chemical composition of the five-component system Sm-Co-Cu-Fe-Zr-based alloy was investigated. The equations describing the dependence of the magnetic properties of the alloy’s chemical composition were discovered. A mesh nomogram based on the equations needed to predict the magnetic properties by chemical composition analysis was created.