The invention discloses a magnetic field modulation hybrid excitation motor and a multi-working-wave design method thereof. The motor comprises a stator and a rotor, wherein the stator comprises a stator iron core, two sets of windings and permanent magnets, the two sets of windings comprise an armature winding and an exciting winding, the stator iron core is designed as an open slot, one set of windings is distributed in the open slot of the stator iron core, and is wound on one stator tooth in a centralized manner, the outer surface of each stator tooth is provided with a groove, the other set of windings is placed in the groove of the stator tooth, each stator tooth is split into two modulation teeth through the groove, one permanent magnet is placed on each modulation tooth, the otherwinding is wound on two adjacent modulation teeth formed by splitting different stator teeth in a centralized mode, and the magnetizing direction of the permanent magnets is consistent with or opposite to the direction of a magnetic field formed by the excitation winding on the modulation teeth. According to the invention, the permanent magnet magnetomotive force and the excitation magnetomotive force are connected in parallel on the magnetic circuit and are independent from each other, so that the risk of irreversible demagnetization caused by the introduction of an excitation current permanent magnet is avoided, and the effective exertion of the magnetic regulation capability is ensured.