A rare earth permanent magnet is prepared from a sintered magnet body of a R1—Fe—B composition wherein R1 is a rare earth element inclusive of Y and Sc, by forming a plurality of slits in a surface of the magnet body, disposing a powder on the magnet body surface, the powder comprising an oxide of R2, a fluoride of R3, or an oxyfluoride of R4 wherein each of R2, R3, and R4 is a rare earth element, and heat treating the magnet body and the powder below the sintering temperature in vacuum or in an inert gas.