PURPOSE: To accomplish a highly efficient magnet by a method wherein a specific quantity of adjustment alloy powder is added and compounded to R-Fe-B alloy powder having R2Fe14B phase as the main phase and containing B-rich phase.

CONSTITUTION: The title permanent magnet raw material powder consists of 10 to 30atom% R (at least a kind of Y-containing rare earth element), 6 to 40atom% B and the remaining part of Fe (a part of Fe can be replaced with one or two kinds of Co and Ni). Permanent magnet raw material powder is manufactured by adding and blending R2Fe17 phase containing adjusting alloy powder. As a result, the quantity of the B-rich phase and Nd-rich phase, with which the magnetic characteristics of the permanent magnet will be deteriorated, can be reduced, and a highly efficient magnet can be accomplished.