The invention discloses a rare-earth permanent magnet. The rare-earth permanent magnet mainly comprises the following components in percentage by atom: 12.1-16.2 percent of R, 0-3.4 percent of M1, 0-7.2 percent of M2, 5.1-7.4 percent of B and the balance of T, wherein the R is at least one of rear-earth elements including Y and Sc, and at least contains Nd; the M1 is at least one of Nb, Ti, Zr, V, Cr, Mo and Mn; the M2 is at least one of Al, Cu, Zn, Ga, In, Ge and Sn; the T is Fe or Fe and Co. A preparation method of the rare-earth permanent magnet comprises the processes of preparation of a magnet blank, coating, thermal treatment, and ageing, wherein the magnet blank is prepared by using a double-alloy method or a composite powder method. According to the magnet prepared by using the method, the coercive force, the temperature resistance and the corrosion resistance of a larger-size magnet can be improved, and the residual magnetism and the squareness of the magnet are not reduced.