A powder raw material is prepared by mixing at least two kinds of powders selected from a powder A, a powder B, a powder C, and a powder D. A sintered body of a magnetic material having an NaZn13 crystal structure phase is formed by heating the powder raw material while applying a pressure treatment. The powder A is at least one of elemental powder of element R selected from Y, La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, and Yb. The powder B is at least one of elemental powder of element T selected from Fe, Co, Ni, Mn, and Cr. The powder C is at least one of elemental powder of element M selected from Si, B, C, Ge, Al, Ga, and In. The powder D is a compound powder composed of at least two kinds of elements selected from the element R, the element T, and the element M.