The invention relates to a novel sintered ndfeb permanent magnet and a preparation method thereof. The composition expression of the sintered ndfeb permanent magnet is (Cex, Nd1-x)y-Mz-Fe100-y-zB0.9-1.05, wherein x is greater than or equal to 0.05 and smaller than or equal to 0.1, y is greater than or equal to 0.4 and smaller than or equal to 0.9, z is greater than or equal to 0.5 and smaller than or equal to 5, and M is one or several of Gd, Co, Al, Cu and Zr. After the composition of the sintered ndfeb permanent magnet is designed and the production technology is improved, the material cost of the product is reduced, the integrated performance is improved, the cost performance is increased comprehensively, and the magnetic property and the anti-demagnetization performance are improved; moreover, the manufacturing cost of the product is reduced effectively, and based on the current unit price of raw materials, the cost can be reduced by 16.5 yuan/kilo, and the power consumption can be reduced by 1 kwh/kilo.