Rare earth magnet and its preparation

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A rare earth magnet is prepared by disposing a R 1 -T-B sintered body comprising a R 1 2 T 14 B compound as a major phase in contact with an R 2 -M alloy powder and effecting heat treatment for causing R 2 element to diffuse into the sintered body. The alloy powder is obtained by quenching a melt containing R 2 and M. R 1 and R 2 are rare earth elements, T is Fe and/or Co, M is selected from B, C, P, Al, Si, Ti, V, Cr, Mn, Fe, Co, Ni, Cu, Zn, Ga, Ge, Zr, Nb, Mo, Ag, In, Sn, Sb, Hf, Ta, W, Pt, Au, Pb, and Bi.