PURPOSE: To enhance the magnetic characteristics of a permanent magnet, especially the coersive force, and to reduce the variation in the permanent magnet.

CONSTITUTION: Within this manufacturing method wherein R-T-B magnet mainly comprising rare earth element (R) transition metal (T) boron (B) is to be manufactured by sintering alloy particles in objective composition or prepared in the objective composition to be heat-treated later, the heat treatment is divided into two steps. The temperature of the first step is 700-1100°C. Then the body is cooled to a temperature below 300°C at a cooling down rate of above 30°C/min. The body is again heated to a temperature of 450 to 700°C in the second step and then cooled to a temperature below 200°C at a cooling down rate of 10 to 100°C/min.