A multi-functional biological magnetic fiber, is composed of multi-functional biological magnetic agglomerate and fiber-classed resin section, the agglomerate is consists of the following components: carrier resin 36-67.5%, magnetic powder 11-37%, active carbon powder 4-13%, combinant coupling agent 2.5-6%, and dispersing agent 15-18%. The manufacturing method is: (1) drying the magnetic powder and active carbon powder, which are mixed with the carrier resin, coupling agent and dispersing agent, heated, processed with high speed, extruding by screw, cooled and cut into particles, forming the functional agglomerate; (2) dry the functional agglomerate, the add into the fiber-classed resin section, through molten stressing the spinning and processed, acquiring the multifunctional biological magnetic fiber; (3) place the fiber acquired in the strong magnetic field of 6000-1200v Gauss to magnetize for 0.5-2min, the get the product. The fiber is a compound fiber with compound functions such as magnetic, absorptive, negative ion and far-infared ones.