Neutron-diffraction techniques have been used to study the interplay between superconductivity and magnetism in HoNi2B2C (Tc=8 K). The experimental results, obtained on single crystals, show that below approximately 4.7 K, this compound is in a simple antiferromagnetic state that coexists with superconductivity. Between approximately 4.7 and 6 K, an incommensurate modulated magnetic structure has been found. This observation strongly suggests that pair breaking associated with this incommensurate magnetic structure is responsible for the deep minimum in Hc2 and the near-reentrant behavior observed in this compound at approximately 5 K.