The invention relates to a R-(Fe, Co)-B sintered magnet and a making method. An R-(Fe,Co)-B base sintered magnet consisting essentially of 12-17 at% of R containing Nd and Pr, 0.1-3 at% of M1 (typically Si), 0.05-0.5 at% of M2 (typically Ti), B, and the balance of Fe, and containing R2(Fe,Co)14B as a main phase has a coercivity of at least 10 kOe. The magnet contains a M2 boride phase at a grain boundary triple junction, and has a core / shell structure that the main phase is covered with a grain boundary phase. The grain boundary phase is composed of an amorphous and / or nanocrystalline R'-(Fe,Co)-M1' phase consisting essentially of 25-35 at% of R' containing Pr, 2-8 at% of M1' (typically Si), up to 8 at% of Co, and the balance of Fe. A coverage of the main phase with the R'-(Fe,Co)-M1' phase is at least 50%, and the bi-granular grain boundary phase has a width of at least 50 nm.