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PROBLEM TO BE SOLVED : To provide a magnetic material which is arranged by use of ε-FeOand enables the rise in residual magnetic flux density and the increase in coercive force.SOLUTION : A composite magnetic material comprises : oxidation iron particles 5 containing ε-FeO3 and metal iron 4; and rare earth-iron based particles 1 formed from a compound including a rare earth element and iron. The rare earth-iron based particles 1 are made larger than the oxidation iron particles 5 in average particle diameter. The rare earth-iron based particles 1 are made larger than the oxidation iron particles 5 in volume fraction.