Much waste electrical and electronic equipment contain considerable amount of rare earth elements (REEs); however, the current level of REE recycling from them is very limited (< 1%). Neodymium-iron-boron (NdFeB) magnets, used at both small- and large-scale from computer hard disk drives and small tools to wind turbines and cars, are a good example of such waste materials that contain high content of neodymium and dysprosium. These elements are considered critical metals because they are the main building block of green technologies that will enable the GHG emissions reduction target. Thus, it is critical to develop efficient, robust, and cost effective processes to recycle these elements from this class of electronic waste materials. Here, we performed a through characterization of N52 NdFeB magnet to identify its composition, crystal structure, and morphology. Furthermore, we then developed an efficient hydrometallurgical process to extract Nd and Dy with high efficiency (more than 95%).