PURPOSE: To improve the magnetic characteristics of a sintered-type rare earth permanent magnet represented by RT5 or R2T17 (where, R is yttrium and rare earth element, T is transition metal) and to improve a variation in characteristics.

CONSTITUTION: A magnetoplumbite-type ferrite, 1% or less by wt, is contained in a rare earth magnet alloy represented by RT5 or R2T17. Addition of ferrite with 1% or less by wt improves residual magnetic flux density Br and coercive force Hc as well. Thus, magnetic energy product (BH)max is also improved. However, no addition effect is recognized at 1% or more by wt.