The invention discloses an anisotropic SmCo<5> type rare earth permanent magnet material and a preparation method therefor. The permanent magnet material comprises the following components with the general formula as follows: SmCo<5-x>C<x> or Sm(Co<1-y>M<y>)<5-x>C<x>, where y is greater than or equal to 0.01 and less than or equal to 0.3; x is greater than or equal to 0.02 and less than or equal to 2; M is selected from one or more of metals Fe, Ni, Cr, Cu, V, Ti, Zr, Mn, W or Mo; the preparation process comprises the steps of preparing materials, smelting and performing rapid quenching on melt, wherein the step of rapid quenching on the melt is performed by a vacuum melt-spinning machine with the copper roller rotary speed V of greater than or equal to 40m / s. The rare earth permanent magnet material is reasonable in component matching, and capable of effectively improving degree of supercooling of the alloy component system; the preparation process is simple, and the easily magnetized axis, namely, a C axis, of the prepared anisotropic SmCo<5> nanocrystal permanent magnet material is perpendicular to the surface of a thin strip, and a structure of preferential growth is formed on the C axis; therefore, the alloy has excellent magnetic performance in a direction perpendicular to the thin strip, the crystal particles are fine and small, and the alloy is high in remanent magnetization strength, coercivity, magnetic energy product and the Curie temperature; and the use temperature of the temperature can be effectively improved, so that the rare earth permanent magnet material is suitable for industrial application.