The invention relates to an infrared magnetic phase change material, which belongs to an optoelectronic material. The structure of the infrared magnetic phase change material is as follows: an inner shell (2) is a copolymer of styrene and methacrylic acid, an outer shell (1) is made of conductive polyaniline, a core material B is paraffin (4), and a core material A is modified nano-ferrite (3). Apreparation method comprises the following steps: mixing ferrite, paraffin, styrene, methacrylic acid, lauryl mercaptan and azodiisobutyronitrile according to a certain proportion; dissolving a certain amount of lauryl sodium sulfate and Triton X-100 in deionized water; mixing the two kinds of solution for emulsification, filling nitrogen, heating and mixing; after 6 hours, breaking emulsion, leaching, washing, drying, mixing the obtained powder with aniline monomer and dilute hydrochloric acid according to a certain proportion, reducing the temperature, and dropping hydrochloric acid solution containing a certain amount of ammonium persulfate; and after 6 hours, leaching, washing and drying, thereby obtaining the final product. The invention integrates three functions within one material, i.e. microwave absorption, temperature control and reduction of infrared emission, and solves the problem that various materials are needed in the conventional multi-band protection.