The invention relates to a rare-earth additive alloy for producing magnetic material. The composition formula can be represent as R1R2M, the alloy includes 0.5wt%<=R1<=30wt%, 0wt%<=R2<=99.0wt% and residue M, the R1 represents at least one element selected from Tb and Dy, R2 represents at least one element selected from La, Ce, Pr, Nd, Y, Sc, Sm, Eu, Gd, Ho, Er, Tm, Yb and Lu, M represents one or more transition metal selected from Fe, Co, Cu, Zr, Ga, Al, Mn, Ni, Cr, Zn, Ge, Sem, Mo, V, Ti, In, Sn, Sb, Pb and Hf. Compared with rare-earth permanent-magnet material added with single metal, the rare-earth permanent-magnet material prepared with the additive alloy has advantages of low melting point, precise composition control, uniform elements dispersion and high magnet performance.