PURPOSE: To obtain fine acicular particles having high uniformity by dissolving at least one type of metallic salts of Ni, Co and Fe and oxalic acid ions in polyvalent alcohol in supersaturated state, then cooling the mixture to produce nuclear crystal, adding water thereto, then growing metallic oxalate salt and then reducing the mixture.

CONSTITUTION: At least one type of metallic salts of Ni, Co, and Fe and oxalic acid ions are dissolved in polyvalent alcohol such as ethylene glycol, propylene glycol, polyethylene glycol, glycerin or the like as a solvent in supersaturated state, the mixture is cooled, and nuclear crystal is produced. Then, water is added to the solution to thereby grow metallic oxalate salt, the solution is then reduced, and acicular metallic oxalate salt is obtained. Thus, polyvalent alcohol is mixed with the solvent to thereby grow the metallic oxalate salt, and magnetic powder for memory cell having approx. 485 oersted of coercive force or approx. 14.0emu of saturated magnetization can be obtained.