PURPOSE: To provide a high thermo-stability and low coercive force and accomplish a magnetic characteristic with high 4πI incremental rate by using the molten metal quenching method to prepare a rare earth-iron type permanent magnet with the composition specified, and by mixing the powder obtained by crushing it with a thermohardening synthetic resin.

CONSTITUTION: An alloy RaFe1-a-b-c-d-eBbCocSidGae (a-e are atomic ratio to be given specifically) is prepared by the molten metal quenching method, where R is at least one of Y and other rare earth elements. The atomic ratios shall range as 0.11≤a≤0.15, 0.05≤b≤0.08, 0<c≤0.25, 0.02≤d≤0.10, 0.01≤e≤0.10. The alloy thus obtained is subjected to hot plastic processing to give magnetical anisotropic property. This is crushed into powder and mixed with 10% by wt. thermohardening epoxy resin, and the resultant undergoes compression molding to accomplish a resin bond type rare earth magnet. Thus a magnet having good magnetic characteristics is fabricated with high producibility.