A manufacturing method of a hybrid permanent magnet type electric rotating machine including a stator that is constructed by winding excitation coils around respective main poles. A rotor is constructed by fixing a first rotor unit, which consists of a pair of rotor cores and a magnetic material sandwiched between the rotor cores, and a second rotor unit, which has the same construction as the first rotor unit, to a rotation shaft. The rotor is assembled to the stator to form an assembled body. The magnet material of the first rotor unit is magnetized in the axial direction by a magnetizing flux passing through a half of the assembled body in the axial direction. The magnet material of the second rotor unit is magnetized in the axial direction in an opposite polarity by a magnetizing flux passing through the remaining half of the assembled body in the axial direction.