The invention discloses a method for preparing rare-earth magnetic ferrite through an in-situ polymerization cracking process. Before a reaction begins, a stable solution is formed by dispersing metal ions in the stoichiometric ratio in an acrylic aqueous solution, various reactant metal ions are thoroughly mixed, and an initiator is added so that a polymerization reaction is aroused quickly. Lots of heat is released in the reaction, and the volume of the reactants expands sharply due to water vapor, so that a honeycombed solid-state polymer is formed. Due to volume expansion, the metal ions are dispersed more evenly, the nanocrystallization degree is high, the reaction activity among nanoparticles is increased, the diffusion distance of ions in a solid-phase reaction is reduced, the diffusibility is improved, and the nucleation and growth speed of a crystalline-state material is accelerated, and then a material uniform in dimension can be obtained through subsequent relative low heat treatment. The prepared material is good in crystallinity and few in crystal defects, and the nanoparticles are dispersed evenly. The method for preparing the rare-earth magnetic ferrite is simple in process, low in preparation temperature, short in heat-preserving time and advantageous for industrial production.