The effect of Y addition and magnetic field on texture and magnetic properties of arc-melted alnico 9 magnets has been investigated. Small additions of Y (1.5 wt.%) develop a (200) texture for the arc-melted alnico 9 magnet. Such a texture is hard to form in cast samples. To achieve this goal, we set up a high-field annealing system with a maximum operation temperature of 1250 °C. This system enabled annealing in a field of 45 kOe with subsequent draw annealing for the solutionized buttons; we have been able to substantially increase remanence ratio and coercivity, from 0.70 and 1200 Oe for the Y-free alnico 9 to 0.90 and 1400 Oe for the Y-doped alnico 9, respectively. A high energy product of 7.3 MGOe has been achieved for the fully heat-treated Y-doped alnico 9. The enhancement of coercivity is believed to arise from the introduction of magnetocrystalline anisotropy from 80 nm Y2Co17-type grains, which are exchange-coupled to the main-phase alnico rods.