The invention discloses a permanent magnet motor. The permanent magnet motor comprises a stator core; a plurality of annular stator radial air channels that are staggered and distributed along the axial direction are arranged on the periphery of the stator core; the permanent magnet motor further comprises a rotor magnet yoke set on the periphery of the stator core and a plurality of permanent magnets that are fixed in the rotor magnet yoke and staggered and distributed along the axial direction; and, replacement pieces that align at the radial direction of the stator radial air channel are set on the periphery of the stator radial air channel and fixed in the rotor magnet yoke to be clamped between adjacent two permanent magnets. The permanent magnets originally located on the periphery of the stator radial air channel are replaced by the replacement pieces on the radial direction; on the premise of not affecting the key performance parameter of the permanent magnet motor, the amountof the permanent magnets is reduced; the permanent magnets are prevented from being wasted; the resource is saved; and therefore, the cost is reduced.