A ferrite magnet obtained by adding either an oxide of Mn or oxides of Mn and Co to a ferrite having a hexagonal M-type magnetoplumbite structure, in which a portion of Sr, Ba, Pb or Ca is replaced with at least one element that is selected from the group consisting of the rare earth elements (including Y) and Bi and that always includes La, during the fine pulverization process thereof, and then subjecting the mixture to re-calcining and/or sintering process(es). By adding a small amount of the element Mn or elements Mn and Co to the ferrite already having the hexagonal M-type magnetoplumbite structure during the fine pulverization process thereof, the magnetic properties can be improved.