The invention discloses a one-dimensional joint inversion method for time-frequency electromagnetic data and magnetotelluric data. The transmitting frequency of the joint inversion time-frequency electromagnetism ranges from 0.025 Hz to 100 Hz, the frequency of the magnetotelluric sounding ranges from 0.0005 Hz to 320 Hz, the distances between all time-frequency electromagnetic measuring points and all magnetotelluric measuring points are calculated, the nearest magnetotelluric measuring point is obtained, data of the magnetotelluric measuring point are extracted, a joint inversion Jacobian partial derivative matrix of the time-frequency electromagnetism and the magnetotelluric sounding is calculated, a target function is calculated according to the regularization inversion principle, the target function is minimized through the conjugate gradient iterative algorithm, and when the fitting error of the target function reaches the set error standard or the iterations exceed the set maximum iteration number, the joint inversion is finished. According to the one-dimensional joint inversion method, the underground dielectric resistivity distribution below a measuring line can be obtained, the interpretation requirements for structures, faults and entrapments can be met, and the joint inversion result shows that the resolution from shallow to deep is higher than the resolution of the inversion result obtained by independently using time-frequency electromagnetic data.