The invention relates to a finishing process technology, in particular to an ultrasound magnetic force composite efficient finishing process device. The ultrasound magnetic force composite efficient finishing process device solves the problems that the applied range of an existing finishing process technology is small, processing efficiency is low, abrasive materials cannot be collected easily and the structure is complex. The ultrasound magnetic force composite efficient finishing process device comprises a working table, a guide rail, a tailstock, a giant magnetostrictive transducer, a clamp, a cylindrical workpiece, a magnetic field generating device, a large belt pulley, a V belt, a fixed support, a small belt pulley and a motor. The magnetic field generating device comprises a ring-shaped magnetic yoke, a tile-shaped permanent magnet pole, a magnetic grinding tool, a sleeve and an end cover. The giant magnetostrictive transducer comprises a rear end cover, a pre-tightening nut, a pressure block, a cooling water inlet, a cylindrical casing, a cylindrical coil stand, a front end cover, a pressure rod, an excitation coil, a cooling water outlet, a pre-tightening spring and a cylindrical rare earth giant magnetostrictive rod. The ultrasound magnetic force composite efficient finishing process device is suitable for finishing process of various mechanical parts.