Provided is a method for manufacturing a rare-earth magnet capable of manufacturing a rare-earth magnet with high degree of orientation by sufficient plastic deformation while suppressing cracks at the side faces of a compact that is plastic-deformed during the hot deformation processing. The method includes a step of preparing a compact S, preparing a plastic processing mold including a die D in which a cavity Ca is provided, and punches P that are slidable in the cavity Ca, the cavity Ca having a cross section that is larger in cross-sectional dimensions than a cross section of the compact S that is orthogonal to a pressing direction by the punches P; and a step of placing the compact S in the cavity Ca and performing hot deformation processing, thus manufacturing an orientational magnet C. Let that W1 denotes a length of a short side of the cross section of the cavity Ca and t1 denotes a length of a side of the cross section of the compact S that is placed in the cavity Ca, the side corresponding to the short side of the cavity Ca, t1/W1 is within a range of 0.55 to 0.85, and from some stage during the hot deformation processing, a part of the compact S is constrained at a side face of the cavity Ca so that deformation of the compact is suppressed, but another part of the compact is in a non-constraint state.