Permanent magnet and method for preparation thereof

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A ferrite magnet obtained by adding at least one element selected from the group consisting of Co, Ni, Mn and Zn to a ferrite having a hexagonal M-type magnetoplumbite structure, in which a portion of Sr, Ba, Pb or Ca is replaced with at least one element that is selected from the group consisting of the rare-earth elements (including Y) and Bi and that always includes La, during the fine pulverization process thereof, and then subjecting the mixture to recalcining and/or sintering process(es). By adding a small amount of the element such as Co, Ni, Mn or Zn to the ferrite already having the hexagonal M-type magnetoplumbite structure during the fine pulverization process thereof, the magnetic properties can be improved.