PURPOSE: To provide a practical T-TM-B permanent magnet having high (BH)max and iHc of 13kOe or more.

CONSTITUTION: An R-TM-B permanent magnet contains 12.0 to 16.0at% of R (where R is one or more types of range of rare earth elements including Y), 5.5 to 8.0at% of B, and the residue TM (where TM is that Fe or the part of the Fe is replaced by less than 20at% of Co), and has R2TM14B phase as a main phase, the mean crystalline grain size of the main phase is 3 to 8μm and its standard deviation is 2.5μm or less.