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In one embodiment, a permanent magnet includes a sintered compact including : a composition expressed by a composition formula : RpFeqMrCusCo100-p-q-r-s (R is at least one element selected from rare-earth elements, M is at least one element selected from Zr, Ti, and Hf, 10≦p≦13.3 at %, 25≦q≦40 at %, 0.87≦r≦5.4 at %, and 3.5≦s≦13.5 at %); and a metallic structure having a main phase including a Th2Zn17 crystal phase, and an R-M-rich phase containing the element R whose concentration is 1.2 times or more an R concentration in the main phase and the element M whose concentration is 1.2 times or more an M concentration in the main phase. A volume fraction of the R-M-rich phase in the metallic structure is from 0.2% to 15%.