A method of manufacturing a rare earth-iron-boron magnet

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A process for producing a permanent magnet whereby a rare earth-iron-boron permanent magnet or bond magnet being excellent in magnetic characteristics can be easily obtained in high yield without process complication by the utilization of shear plastic deformation not having been employed in the conventional production of magnet alloys. In particular, a process comprising the step (A) of providing a magnet raw alloy having a composition comprising 11.3 to 16.5 atomic % of R consisting of at least one member of rare earth metal elements including Y, 4.7 to 7.4 atomic % of B and the remainder of M containing Fe and the step (B) of carrying out shear plastic deformation of the magnet raw alloy.