Provided is a magnetic-geared motor that can suppress eddy current flowing inside a fastening member and reduce power loss. The magnetic-geared motor includes: a stator; a first rotor provided rotatably relative to the stator and including a plurality of magnetic pole pieces and a plurality of spacers disposed so as to be arranged in a circumferential direction; and a second rotor provided coaxially with the first rotor. Each spacer is composed of a plurality of divisional spacers disposed apart from each other in an axial direction, and a plurality of fastening tools for fastening the plurality of divisional spacers in the axial direction, and the divisional spacers and the fastening tools are electrically insulated from each other.