We performed inelastic neutron scattering measurements on single crystals of NdFe$_{3}$($^{11}$BO$_{3}$)$_{4}$ to explore the magnetic excitations, to establish the underlying Hamiltonian, and to reveal the detailed nature of hybridization between the 4$f$ and 3$d$ magnetism. The observed spectra exhibiting a couple of key features, i.e., anti-crossing of Nd- and Fe-excitations and anisotropy gap at the antiferromagnetic zone center, are explained by the magnetic model including spin interaction in the framework of weakly-coupled Fe$^{3+}$ chains, interaction between the Fe$^{3+}$ and Nd$^{3+}$ moments, and single-ion anisotropy derived from Nd$^{3+}$ crystal field. The combination of the measurements and calculations reveals that the hybridization between 4$f$ and 3$d$ magnetism propagates the local magnetic anisotropy of the Nd$^{3+}$ ion to the Fe$^{3+}$ network, resulting in the bulk structure of multiferroics.
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