Abstract: The invention discloses a low-neodymium, non-heavy-rare-earth and high-performance magnet and its preparing method, and belongs to technical field of rare earth permanent magnetic material. The magnet has a chemical formula of [(Nd, Pr)100-x(Ce100-yLay)x]aFe100-a-b-cBbTMc, wherein x, y, a, b and c represent mass percents of corresponding elements respectively, 0?x?40%, 0?y?15%, 29?a?30%, 0.5?b?5%, 0.5?c?5%; and TM is one or more selected from Ga, Co, Cu, Nb and Al elements. A series of grades of magnets can be prepared with rapidly solidified strips of only three components. Component proportioning of magnet can also be directly performed by using mixed rare earth, so that the cost increased by further separation and purification of the rare earth is reduced. During the preparation of magnetic powder with a jet mill, an antioxidant lubricant which is composed of alcohol, gasoline and basic synthetic oil is added.