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In one embodiment, a permanent magnet includes a sintered compact having a composition expressed by a composition formula : Rp1Feq1Mr1Cus1Co100-p1-q1-r1-s1 (R is a rare-earth element, M is at least one element selected from Zr, Ti, and Hf, 10≦p1≦13.3 at %, 25≦q1≦40.0 at %, 0.88≦r1≦5.4 at %, and 3.5≦s1≦13.5 at %). The sintered compact includes crystal grains each composed of a main phase including a Th2Zn17 crystal phase, and a Cu-rich phase having a composition with a high Cu concentration and an average thickness of 0.05 μm or more and 2 μm or less.