A process for production of a magnet which comprises step of supplying a slurry S containing magnetic powder and a dispersing medium into the cavity C of a molding apparatus 12, a step of compression molding the slurry S while applying a magnetic field to the slurry S to obtain a molded article and a step of sintering the molded article to obtain a magnet, wherein the molding apparatus 12 comprises a die 121 having a through-hole 121a into which the slurry S is supplied, a slurry supply gate 121d being formed in the inner wall surface 121b, a die 122 inserted in the through-hole 121a and a die 123 that forms a cavity C together with the dies 123, 122, the slurry S being supplied in an amount such that it is less than the volume of the cavity C when the die 122 has been inserted in the through-hole 121a and has blocked the slurry supply gate 121d, and in the step of obtaining the molded article, the slurry S is compression molded after the die 122 has blocked the slurry supply gate 121d.