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PROBLEM TO BE SOLVED : To provide a rare earth-iron-boron based composite magnet alloy having a high coercive force while maintaining a high residual magnetic flux density, and used for a bond magnet. SOLUTION : The rare earth-iron-boron based composite magnet alloy is expressed by general formula of RaFe100-a-b-c-d-eCubNbcCodBe; wherein, R is Nd or a mixture of Nd and Pr; and a, b, c, d, e satisfy the ranges : 4.0≤a≤5.0 atomic%, 0.1≤b≤0.5 atomic%, 0.5≤c≤1.5 atomic%, 1.0≤d≤5.0 atomic%. 15.0≤e≤17.5 atomic%. The alloy has a coercive force satisfying HcJ≥3.0 kOe and a residual magnetic flux density satisfying Br≥11.0 kG. COPYRIGHT : (C)2007, JPO&INPIT