Radially oriented ring-shaped preliminarily molded pieces of a ring magnet are stacked in an axial direction to form a ring-shaped molded body, in which end faces of the ring-shaped preliminarily molded pieces are bonded together. This ring-shaped molded body is sintered and heat-treated to produce the ring magnet. Ring magnets which are less susceptible to deterioration of magnetic properties due to a disturbance of magnetic orientation near lamination boundary surfaces are produced. The invention provides a method of manufacturing such ring magnets with high efficiency.