PURPOSE: To obtain a rare earth cobalt (R2Co17) type magnet, having excellent magnetic characteristics, with which manufacturing cost can be cut down sharply without substantially impairing temperature characteristics.

CONSTITUTION: In an R2Co17 rare earth cobalt magnet containing Sm, Pr and Ce as rare earth element R and Co as transition metal element, the mixing ratio of Sm, Pr and Ce, which constitute rare earth element R, is set in such a manner that Sm becomes 30wt.% or more, Pr becomes 10 to 40wt.% and Ce becomes 5 to 40wt.%.