The magnet material is represented by a composition formula 1: (R1-xYx)aMbAc, where R is at least one element selected from the group consisting of rare-earth elements, M is at least one element selected from the group consisting of Fe and Co, A is at least one element selected from the group consisting of N, C, B, H and P, x is a number satisfying 0.01≤x≤0.8, a is a number satisfying 4≤a≤20 atomic %, b is a number satisfying b=100−a−c atomic %, and c is a number satisfying 0≤c≤18 atomic %), and includes a main phase having a Th2Ni17 crystal structure. A concentration of the element M in the main phase is 89.6 atomic % or more.