The invention discloses carbon-coated magneto-rheological fluid, which comprises magnetic particles, carrier liquid, a surfactant, a thixotropic agent, an antioxidant, a solid lubricant and a dispersant, wherein the magneto-rheological fluid comprises the following materials in percentage by mass respectively: 20 to 80 percent of the magnetic particles, 15 to 45 percent of the carrier liquid, 1 to 3 percent of the surfactant, 0.5 to 2 percent of the thixotropic agent, 0.5 to 2 percent of the antioxidant, 1 to 3 percent of the solid lubricant and 1 to 3 percent of the dispersant. The mass of the carbon-coated magneto-rheological fluid is very light; under the condition without a magnetic field, after standing for half a year, the carbon-coated magneto-rheological fluid has the settling amount not higher than 3 percent and has very high stability and mechanical properties; and an acid corrosion test proves that the carbon-coated magneto-rheological fluid has very strong inoxidability. Simultaneously, the shearing yield strength is not obviously reduced, and the null field viscosity index is obviously improved. The result of electron microscope scanning shows that the carbon-coated particles have better dispersity.