A magnet powder having a composition composed of R (R consists of R1 and R2, R1 represents at least one rare earth element selected from the group consisting of Y, La, Ce, Pr, Nd, Sm, Eu, Tb, Dy, Er, Tm, Yb and Lu, R2 represents at least one rare earth element selected from the group consisting of Ho and Gd). T (T represents at least one transition metal element containing Fe or the combination of Fe and Co as essential element(s)) and B, wherein, the atomic ratio of R2/(R1×R2) is 0.05 to 0.1, the ratio of R/T is 0.25 to 0.35, and the magnet powder has an average primary particle size of 45 to 100 nm. The present invention also provides a bond magnet using the magnet powder.