To realize a sustainable society, "green technology" with low (or even zero) CO 2 emissions, is required. A key material in such technology is a permanent magnet because it is utilized for electric-power conversion in several applications including electric vehicles (EVs), hybrid EVs (HEVs), and turbines for wind power generation. To realize highly efficient electric-power conversion, a stronger permanent magnet than Nd-Fe-B is necessary. One potential candidate is a Fe-rich SmFe 12 -based compound with a ThMn 12 structure. In this paper, the phase stability, structure, and intrinsic and extrinsic magnetic properties in both film and bulk forms are reviewed. Based on these results, a possible way to realize a strong SmFe 12 -based permanent magnet in bulk form is discussed.