An R-T-B based permanent magnet includes R-T-B based compounds as main-phase crystal grains. R is a rare earth element. T is iron group element(s) essentially including Fe or Fe and Co. B is boron. A two-grain boundary is contained between the two adjacent main-phase crystal grains. An average grain size of the main-phase crystal grains is 0.9 μm or more and 2.8 μm or less. A thickness of the two-grain boundary is 5 nm or more and 200 nm or less.