Rapidly solidified rare-earth-based permanent magnets are considered to have better potential as permanent magnets compared to the conventional bulk materials, which can be attributed to their improved microstructure and better magnetic properties compared to rare-earth magnets synthesized by the conventional (powder metallurgy) routes. The performance (quality) of these magnets depends on the thermodynamics and kinetics of the different processing routes, such as atomization, melt spinning, and melt extraction. Here, we review the various processing routes of rapidly solidified rare-earth permanent magnets and the related properties and applications. In the review, some specific alloy systems, such as Sm–Co-based alloys, Nd–Fe–B, and interstitially modified Fe-rich rare-earth magnets are discussed in detail mentioning their processing routes and subsequently achieved crystal structure, microstructure and magnetic properties, and the related scopes for various applications. Some newly developed nanocomposites and thin-film magnets are also included in the discussion.