An overflow valve with a magneto-rheological pilot valve comprises an overflow valve seat, an overflow valve upper cover plate, a main valve spool, an overflow valve body, a main valve spool spring, a magneto-rheological pilot cone valve, a magneto-rheological pilot valve front cover plate, a magneto-rheological pilot valve body, a magneto-rheological pilot valve piston, an electromagnetic coil, a one-way valve plate, a transition plate, a pressure regulating spring, a pressure regulating block and a pressure regulating screw. The overflow valve upper cover plate, the magneto-rheological pilot valve front cover plate and the magneto-rheological pilot valve body are mounted on the overflow valve seat, a valve rod of the magneto-rheological pilot cone valve penetrates the overflow valve upper cover plate, enters the magneto-rheological pilot valve body and is closely connected with the magneto-rheological pilot valve piston, the magneto-rheological pilot valve piston, the magneto-rheological pilot valve body and the electromagnetic coil form a working gap, so that magneto-rheological fluid flows, a space is formed between the transition plate and the valve rod of the magneto-rheological pilot cone valve, the one-way valve plate can elastically deform in the space, and the pressure regulating screw is rotated and can push the pressure regulating block at the front end of the pressure regulating screw to compress or release the pressure regulating spring.