The invention provides a rectangular target with high target utilization ratio, which is used for magnetron sputtering metal films. In the rectangular target, a water cooled base is fixed on a target substrate through an insulating plate; four edge permanent magnets made of NdFeB permanent materials are enclosed into a closed rectangular frame which is embedded on the water cooled base and is used as an N pole; a middle permanent magnet made of the NdFeB material is positioned in the middle of the rectangular frame, is embedded on the water cooled base, and is used as an S pole; the edge permanent magnets are cuboids, the upper parts of the edge permanent magnets, which is towards one side of the rectangular frame are provided with chamfers, and the middle permanent magnet is cuboid, the upper parts of two corresponding sides of the middle permanent magnets are also provided with chamfers; a target lining plate above the permanent magnets is fixed on the top of the water cooled base; and the target is fixed on the target lining plate through a target pressing plate. The rectangular target has good evenness of the film and higher target utilization ratio, and obviously improves thesputtering rate and production efficiency.