A method for preparing a rare earth permanent magnet material comprises the steps of: disposing a powder comprising one or more members selected from an oxide of R2, a fluoride of R3, and an oxyfluoride of R4 wherein R2, R3 and R4 each are one or more elements selected from among rare earth elements inclusive of Y and Sc on a sintered magnet form of a R1—Fe—B composition wherein R1 is one or more elements selected from among rare earth elements inclusive of Y and Sc, and then heat treating the magnet form and the powder at a temperature equal to or below the sintering temperature of the magnet in vacuum or in an inert gas. The result high performance, compact or thin permanent magnet has a high remanence and coercivity at a high productivity.