A method of producing a rare-earth magnet containing a rare-earth compound having a first rare-earth element and a second rare-earth element different from the first rare-earth element includes: a mixing step of mixing rare-earth compound powder including the first rare-earth element and subjected to a process based on hydrogenation disproportionation desorption recombination with a diffusion material including the second rare-earth element; a molding step of molding the mixed powder into a compact in a magnetic field; and a heating step of heating the compact to diffuse the second rare-earth element into the rare-earth compound powder.