The invention discloses a 
rare earth permanent 
magnet produced by applying abundant 
rare earth cerium (Ce) and a preparation method of the 
rare earth permanent 
magnet produced by applying abundant rare earth Ce. Based on a double-
alloy process, main phase 
alloy formula uses Ce to partly replace 
neodymium (Nd), an optimized composition design enables a main 
alloy to form Ce2Fe14B phase and Nd2Fe14B phase to a greatest extent, and therefore high intrinsic magnetic property is guaranteed. A brand new 
crystal boundary phase is prepared by a 
crystal boundary reconstitution technology, and high integral magnetic property and 
corrosion resistant property are guaranteed, and meanwhile a nanometer 
powder crystal modification method is supplemented, a micro organization structure of a 
magnet is optimized, crystal boundary distribution is improved, and the magnetic property and the 
corrosion resistant property are further improved. By applying abundant rare earth 
cerium, cost is effectively reduced, and meanwhile balance between production and marketing is promoted. 
Praseodymium (Pr), Nd, and the like are chosen to form a hard magnetic shell layer of a main 
phase boundary in a composition design of crystal phase auxiliary alloy at the same time, compared high price heavy rare earth elements of 
dysprosium (Dy) and 
terbium (Tb) with the elements, and 
cost control can be further achieved.