Magnet powder has a composition expressed by (R1XR2YBZT100−X−Y−Z)100−QNQ (in formula, R1 is at least one kind of element selected from rare earth elements, R2 is at least one kind of element selected from Zr, Hf and Sc, T is at least one kind of element selected from Fe and Co, and X, Y, Z and Q are numbers satisfying 2 atomic %≦X, 0.01 atomic %≦Y, 4≦X+Y≧20 atomic %, 0≦Z≦10 atomic %, and 0.1≦Q≦20 atomic %, respectively), and TbCu7 crystal phase as a principal phase. In such magnet powder, a ratio of fine particles of which maximum diameter is 22 &mgr;m or less is 20% by weight or less. Alternatively, surface roughness of particles constituting the magnet powder is 5 &mgr;m or less in terms of maximum height Ry provided in JIS B 0601-1994. Accordingly, to such a magnet powder, excellent magnetic properties can be obtained with reproducibility.