The invention provides a high-performance permanent magnet. The permanent magnet has a composition that is expressed by a composition formula RpFeqMrCutCo100-p-q-r-t, where R is at least one element selected from a rare earth element, M is at least one element selected from the group consisting of Zr, Ti, and Hf, p is a number satisfying 10.8≤p≤12.5 atomic percent, q is a number satisfying 25≤q≤40 atomic percent, r is a number satisfying 0.88≤r≤4.5 atomic percent, and t is a number satisfying 3.5≤t≤13.5 atomic percent. The permanent magnet also has a metallic structure that includes a main phase having a Th2Zn17 crystal phase, and a Cu-M rich phase having a higher Cu concentration and a higher M concentration than the main phase.