There are provided a permanent magnet and a manufacturing method thereof capable of manufacturing metal alkoxide in better work environment, simpler production facilities and easier manufacturing process and also reducing the manufacturing costs. An electrolytic solution is obtained through dissolving chloride or injecting hydrogen chloride gas into alcohol which is same alcohol as is a constituent element of metal alkoxide to be manufactured. Then, electrolysis is performed on the electrolytic solution while using, for an anode, a ferroalloy that contains iron and metal which is a constituent element of the metal alkoxide to be manufactured in a predetermined weight ratio (such as 1:1), and, for a cathode, the same ferroalloy, carbon, platinum or stainless steel, so as to obtain an alcohol solution of the metal alkoxide. Then, a permanent magnet is manufactured using the alcohol solution of the metal alkoxide thus obtained.