A method of manufacturing a permanent magnet, comprising: preparing an alloy powder, the powder being expressed by a composition formula: R p Fe q M r Cu t Co 100-p-q-r-t where R is at least one element selected from the group consisting of rare earth elements, M is at least one element selected from the group consisting of Zr, Ti, and Hf, p is a number satisfying 10.5 ≤ p ≤ 12.4 atomic%, q is a number satisfying 28 ≤ q ≤ 40 atomic%, r is a number satisfying 0.88 ≤ r ≤ 4.3 atomic%, and t is a number satisfying 3.5 ≤ t ≤ 13.5 atomic%; press-forming the alloy powder in a magnetic field to form a compression molded body; sintering the compression molded body at a temperature of not less than 1100°C nor more than 1210°C for not less than 1 hour nor more than 15 hours to form a sintered compact; performing a solution heat treatment on the sintered compact at a temperature of not less than 1100°C nor more than 1190°C for not less than 3 hours nor more than 28 hours; performing a rapid cooling on the compact after the solution heat treatment at a cooling rate of not less than 170 °C/minute to a room temperature; performing a first preliminary aging treatment on the compact after the rapid cooling at a temperature of not less than 450°C nor more than 800°C for not less than 0.5 hours nor more than 10 hours; performing a second preliminary treatment on the compact after the first preliminary treatment at a temperature of not less than 870°C nor more than 920°C for not less than 0.5 hours nor more than 16 hours; and performing a main aging treatment on the compact after the second preliminary treatment at a temperature higher than the temperature of the first preliminary treatment by 10°C or more and lower than the temperature of the second preliminary treatment by 10°C or more for not less than 12 hours nor more than 80 hours. where R is at least one element selected from the group consisting of rare earth elements, M is at least one element selected from the group consisting of Zr, Ti, and Hf, p is a number satisfying 10.5 ≤ p ≤ 12.4 atomic%, q is a number satisfying 28 ≤ q ≤ 40 atomic%, r is a number satisfying 0.88 ≤ r ≤ 4.3 atomic%, and t is a number satisfying 3.5 ≤ t ≤ 13.5 atomic%; press-forming the alloy powder in a magnetic field to form a compression molded body; sintering the compression molded body at a temperature of not less than 1100°C nor more than 1210°C for not less than 1 hour nor more than 15 hours to form a sintered compact; performing a solution heat treatment on the sintered compact at a temperature of not less than 1100°C nor more than 1190°C for not less than 3 hours nor more than 28 hours; performing a rapid cooling on the compact after the solution heat treatment at a cooling rate of not less than 170 °C/minute to a room temperature; performing a first preliminary aging treatment on the compact after the rapid cooling at a temperature of not less than 450°C nor more than 800°C for not less than 0.5 hours nor more than 10 hours; performing a second preliminary treatment on the compact after the first preliminary treatment at a temperature of not less than 870°C nor more than 920°C for not less than 0.5 hours nor more than 16 hours; and performing a main aging treatment on the compact after the second preliminary treatment at a temperature higher than the temperature of the first preliminary treatment by 10°C or more and lower than the temperature of the second preliminary treatment by 10°C or more for not less than 12 hours nor more than 80 hours.