Here we study the molten salt chemical cell using Nd magnet scraps and Cl₂ or O₂ gas electrodes in order to achieve new rare earth recycle process. The anodic polarization of Nd magnet scraps and cathodic polarization of O₂ gas electrodes were investigated in molten LiCl-KCl systems at 723 K. The anodic polarization was carried out by potentiostatic electrolysis of Nd magnet scraps electrode from 0.69-2.39 V(vs. Li⁺/Li) at every 0.050 V interval. The large anodic current was observed at 1.80-2.00 V due to anodic reaction of dissolution of rare earth elements. On the other hand, the cathodic polarization was carried out by potentiostatic electrolysis of O₂ gas electrode using porous Ni from 1.20-2.30 V at every 0.10 V interval in a molten LiCl-KCl added Li₂O(0.50 mol%) system. The large cathodic current was observed from 1.40-1.90 V due to cathodic reaction from O₂ to O^2-.