PURPOSE: To obtain the title permanent magnet having high coercive force, a high energy product, a high orientational direction, excellent magnetizational characteristics and a corrosion-resisting property by a method wherein the ratio of the residual magnetization in the direction of orientation and the residual magnetization in the direction vertical to the orientational direction is specifically set.

CONSTITUTION: The composition of RxT100-x-y-zByMz (provided that R contains one or more kinds of rare-earth elements containing Y, T contains Fe or Co of 5.5≤x≤11.76, 2≤y≤15, z≤10, and M contains at least one or more kinds of Ti, V, Cr, Zr, Nb, Mo, Hf, Ta and W) is obtained, and the ratio Br/Br' is set at 1:1 or above. As a result, high residual magnetization, high coercive force, a high energy product, a high degree of orientational direction, excellent magnetizational characteristics and a corrosion-resisting property can be obtained.