The invention discloses a method for producing a permanent ferrite magnet with less shrinkage. The method comprises following steps: step 1), a main component is added to a ball mill and ground for 4-6 h, and slurry is obtained, wherein the main components comprise constituents in percentage by mass as follows: 10.8%-11.5% of SrCO3, 3.2%-3.7% of La2O3, 1.1%-1.4% of Co2O3 and the balance of Fe2O3,and the sum of all main components in percentage by mass is 100%; step 2), the slurry obtained in the step 1) is stirred with a wet method firstly and subjected to primary mixed grinding, obtained slurry is subjected to filter pressing by a filter press to be dewatered, and water content of the slurry is enabled to be 35%-38%; step 3), the slurry obtained in the step 2) is pumped into a rotary kiln for pre-sintering and subjected to a solid-phase reaction at the temperature of 1230-1260 DEG C, and a permanent ferrite magnet pre-sintered material is obtained; step 4), after the permanent ferrite magnet pre-sintered material obtained in the step 3) is subjected to ball milling to be coarse powder, the coarse powder and additives are mixed uniformly, a mixture is put in the ball mill for secondary fine grinding, and a dispersing agent and an emulsifier are added during secondary ball milling; step 5), fine slurry obtained in the step 4) is subjected to wet press molding, a magnetic shoe blank is obtained and sintered, and the permanent ferrite magnet is obtained.