Production method, the fine R-T-B based rare earth permanent magnet, and R-T-B R-T-B R-T-B alloy b

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The present invention provides an R-T-B type alloy as a raw material of a rare earth-based permanent magnet having excellent magnetic characteristics. The present invention provides an R-T-B type alloy (wherein R is at least one member selected from rare earth elements including Y, T is a transition metal essentially comprising Fe, and B is boron) which is a raw material for use in a rare earth-based permanent magnet, wherein the volume percentage of the region containing an R 2 T 17 phase having an average grain diameter of 3 µm or less in the short axis direction is from 0.5 to 10%.