PURPOSE: To obtain an Mn-Al-C alloy magnet having high performance and suitable for multipolar magnetization by setting a hollow billet of an alloy for an Mn-Al-C magnet in the hollow of a hollow billet of a metallic material and by bringing them into contact with each other by compression.

CONSTITUTION: A hollow billet 2 of an alloy for an Mn-Al-C magnet having a prescribed composition is set in the hollow of a hollow billet 1 of a metallic material such as steel or brass. The billets 1, 2 are compressed at 530W830°C in dies 6 in the axial direction of the billets 1, 2 by means of punches 4, 5 until the billets 1, 2 contact with each other or are brought into an advanced state. By this method an Mn-Al-C alloy magnet for multipolar magnetization is obtd. The magnet has high magnetic characteristics in the diametral direction and high magnetic and metallographical uniformity.