In developing a new milling technique that can produce high precision, smoothness, and gloss on nickel workpiece surfaces, a widely used material is in industrial applications, particularly in mold manufacturing, in which the production requires exceptionally high accuracy. In this work, the factors influencing the magnetic material milling process are determined by investigating the distribution of magnetic iron (MIGs) and abrasive grains (AGs) in the working surface of magnetic liquid slurry (MLS). The magnetic liquid slurry (MLS) contained commercially available MIGs successfully applied for milling the surface of magnetic materials with extremely high accuracy. Surface roughness (Ra=0.592 nm) without leaving scratches on the surface after milling.