Abstract: A corrosion-resistant R-Fe-B type sintered permanent magnet exhibiting deterioration of not more than 5 % from the initial magnetic properties after being tested for 500 hours under the conditions of a temperature of 80.degree. C. and a relative humidity of 90 % is produced by:causing at least one colloidal noble metal selected from the group consisting of Pd, Ag, Pt and Au to be adsorbed in a colloidal state or forming a thin layer thereof through vapor deposition on the surface of the sintered body; applying at least one base metal selected from the group consisting of Ni, Cu, Sn and Co containing P and/or B by electroless plating; and further applying at least one base metal selected from the same group.The noble metal layer is 1-10 nm thick. The electroless plating layer is no more than 10 .mu.m and the electrolytic plating layer 5-60 .mu.m thick.