The invention relates to the technical field of rare earth permanent magnets, in particular to a sintered neodymium iron boron magnet and a preparation method thereof. The sintered neodymium iron boron magnet is characterized in that according to the mass percentage composition, the general formula of the sintered neodymium iron boron magnet is ReaDybFe100-a-b-c-dBcMd; Re is one or more of Pr, Nd,La, Ce, Gd and Ho; M is one or more of Co, Cu, Al, Nb, Ga, Zr, Ti and Cr; and a is larger than or equal to 27 and smaller than or equal to 33, b is larger than or equal to 1.0 and smaller than or equal to 2.0, c is larger than or equal to 0.9 and smaller than or equal to 1.1, and d is larger than or equal to 0 and smaller than or equal to 5. Through the optimized process, smelting, single hydrogen breaking and powder making are not needed, and the using amount of heavy rare earth can be reduced to 1.5wt% or even 1.2wt%, so that rare earth is more uniformly distributed in the grain boundary, and the effective utilization ratio of the rare earth is improved; and according to the sintered neodymium iron boron magnet prepared through the process, while cost is reduced, the excellent magneticproperties are achieved.