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Disclosed are a rapidly-quenched alloy and a preparation method for a rare-earth magnet, wherein the rapidly-quenched alloy contains an R2Fe14B main phase, where R is a rare-earth element including Nd, characterized in that a main phase crystal of the alloy has an average particle size in a short-axis direction of 10 to 15 micrometers, and an Nd-rich phase has an average spacing of 1.0 to 3.5 micrometers. Therefore, in a fine powder prepared by the alloy, the quantity of magnetic domains in a single crystal grain is reduced, which magnetic domains are easier to orientate along an external magnetic field to obtain a magnet of easy axis of magnetization; and moreover, squareness, coercivity and heat resistance of the magnet are obviously improved.