PURPOSE: To obtain a large saturation magnetic flux density and a high coercive force stably to a permanent magnet by a method wherein a specified iron-rare earth element-nitrogen material for permanent magnet is used.

CONSTITUTION: An iron-rare earth element-nitrogen material for permanent magnet, which is shown by a formula: Fe(1-r-a)Rr Ma(1-n)Nn, is used. Provided that, R is a combination of one kind of an element or two kinds or more of elements selected from Y and Th and a group consisting of all lanthanoids, M is one or combination of at least two kinds of an element selected from a group consisting of Ti, Cr, V, Zr, Nb, Al, Mo, Mn, Hf, Ta, W, Mg, Si, Sn and Ge and (r), (a) and (n) are respectively an atomic ratio and are used on the conditions of 0.03≤r≤0.30, 0.005≤a≤0.30 and 0.003≤n≤0.50. Thereby, the largest saturation magnetic flux density and high coercive force of the permanent magnet are stably obtained.