The invention discloses a rare earth permanent magnet and a preparation method for the rare earth permanent magnet by controlling Ce valence state by multicomponent rare earth addition and multicomponent alloy micro-mixing. The alloy composition of the rare earth permanent magnet, by atom percentage, is [NdxCeyLazRE1xyz]hFe100hij MiBj, RE is lanthanide except for neodymium and cerium, or scandium and yttrium, Ce is cerium, Fe is iron element, M is at least one of Al, C, Co, Cr, Cu, F, Ga, Mn, Mo, N, Nb, Ni, P, Pb, S, Si, Ta, Ti, V, and Zr. According to the rare earth permanent magnet and the rare earth permanent magnet preparation method, high abundant rare earth Ce is used for partly replacing Nd, the multicomponent rare earth addition and the multicomponent alloy micro-mixing are used for controlling the Ce valence state to make the Ce valence state to approach 3 valence, and therefore the cost control is effectively achieved, and at the same time, the magnet property can be guaranteed.