Permanent magnet is one of the most important parts in modern industry and the rare earth elements play an essential role for operation of permanent magnet. As is well known, the rare earth elements are mostly produced in China and the world is now facing serious problems owing to supply and demand imbalances. Many attempts have been performed to replace these rare-earth based permanent magnets by rare-earth free magnets, but they have not been successful so far. Regarding this issue, we discuss about an exchange spring magnet as a potential rare earth free permanent magnet structure.