A soft magnetic material having a coercive force of 800 A/m or less, or a semi-hard magnetic material having a coercive force of more than 800 A/m and 40 kA/m or less, the magnetic material comprising: a first phase having crystals with a bcc structure containing Fe and an M component, wherein M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si; and a second phase having crystals with a bcc structure containing Fe and the M component, wherein the content of the M component in the second phase when the total of Fe and the M component contained in the second phase is 100 atom% is an amount of 1.5 times or more and less than 10 5 times relative to the content of the M component in the first phase when the total of Fe and the M component contained in the first phase is 100 atom% and/or the content of the M component in the second phase when the total of Fe and the M component contained in the second phase is 100 atom% is 2 atom% or more and less than 100 atom%, wherein the first phase has a composition represented by a composition formula Fe 100-x M x wherein x is 0.001 ≤ x ≤ 33 in terms of atomic percentage and M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si, or a composition represented by a composition formula Fe 100-x (M 100-y TM y) x/100 wherein x and y are 0.001 ≤ x ≤ 33 and 0.001 ≤ y < 50 in terms of atomic percentage, M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si, and TM is at least one of Ti and Mn, the magnetic material being a form of a powder, wherein an average powder particle diameter when the magnetic material is soft magnetic is 10 nm or more and 5 mm or less, and an average powder particle diameter when the magnetic material is semi-hard magnetic is 10 nm or more and 10 μm or less, wherein the average powder particle diameter is measured as set out in the description, wherein a phase having crystals with a bcc structure containing Fe and the M component has a volume fraction of 25% by volume or more based on the whole magnetic material, and wherein the respective composition ranges of the whole magnetic material are 20 atom% or more and 99.999 atom% or less of the Fe component, 0.001 atom% or more and 50 atom% or less of the M component, and 0 atom% or more and 55 atom% or less of O. a first phase having crystals with a bcc structure containing Fe and an M component, wherein M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si; and a second phase having crystals with a bcc structure containing Fe and the M component, wherein the content of the M component in the second phase when the total of Fe and the M component contained in the second phase is 100 atom% is an amount of 1.5 times or more and less than 10 5 times relative to the content of the M component in the first phase when the total of Fe and the M component contained in the first phase is 100 atom% and/or the content of the M component in the second phase when the total of Fe and the M component contained in the second phase is 100 atom% is 2 atom% or more and less than 100 atom%, wherein the first phase has a composition represented by a composition formula Fe 100-x M x wherein x is 0.001 ≤ x ≤ 33 in terms of atomic percentage and M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si, or a composition represented by a composition formula Fe 100-x (M 100-y TM y) x/100 wherein x and y are 0.001 ≤ x ≤ 33 and 0.001 ≤ y < 50 in terms of atomic percentage, M is one or more of Zr, Hf, V, Nb, Ta, Cr, Mo, W, Cu, Zn, and Si, and TM is at least one of Ti and Mn, the magnetic material being a form of a powder, wherein an average powder particle diameter when the magnetic material is soft magnetic is 10 nm or more and 5 mm or less, and an average powder particle diameter when the magnetic material is semi-hard magnetic is 10 nm or more and 10 μm or less, wherein the average powder particle diameter is measured as set out in the description, wherein a phase having crystals with a bcc structure containing Fe and the M component has a volume fraction of 25% by volume or more based on the whole magnetic material, and wherein the respective composition ranges of the whole magnetic material are 20 atom% or more and 99.999 atom% or less of the Fe component, 0.001 atom% or more and 50 atom% or less of the M component, and 0 atom% or more and 55 atom% or less of O.