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PROBLEM TO BE SOLVED : To provide a rare earth hybrid magnet composition which is high in heat resistance, moisture resistance, superior in moldability and cost performance, and has a maximum energy product of 24 to 74 kj/m and its manufacturing method. SOLUTION : A rare earth hybrid magnet composition contains rare earth magnet powder (A), ferrite magnet powder (B), and resin binder (C). The rare earth magnet powder (A) has a Th2 Zn17 crystal structure whose main components are a rare earth element, iron or iron and cobalt, and nitrogen. The surface of the rare earth hybrid magnet composition is subjected to a zinc(Zn) treatment and/or a phosphate treatment. Provided that the content (wt.%) of the rare earth magnetic powder (A) in the composition is represented by X, and the content (wt.%) of the ferrite magnetic powder (B) is represented by Y, X and Y are so set as to satisfy the following formulas (1) to (3), (1) X<=80, (2) 97.7-1.33X<=Y<=109.4-1.23X, and (3) X+Y<=92.