Sintered permanent magnets based on the compositions Pr16Fe76B8 and Pr16Fe75.5B8Zr0.5 have been prepared using the hydrogen decrepitation process. It has been shown that small amount of zirconium addition to a Pr16Fe76B8 sintered and fast cooled magnet improves the squareness factor (0.68 to 0.96) and diminishes the intrinsic coercivity. Sintered and slow cooled Pr-Fe-B-Zr and Zr-free magnets exhibited higher intrinsic coercivities (1095kA/m) than the fast cooled magnets.