The invention discloses an underfilled magnetic liquid shock absorber adopting a first-order buoyancy principle, belongs to the field of vibration in mechanical engineering, and successfully solves the problem that an existing magnetic liquid shock absorber cannot be applied in engineering practice due to many structural problems. The device comprises a base (1), an annular permanent magnet (2), a shell body (3), nuts (4), a sealing ring (5), a washer (6), a magnetic liquid (7), a first circular permanent magnet (8), an end cover (9), a mass block (10), a cavity (11), a second circular permanent magnet (12) and bolts (13), wherein the shell body is not completely filled with the magnetic liquid (7); the non-magnetic mass block (10) moves in the shell body (3), and generates friction, collision and viscous shearing with the magnetic liquid (7) to consume energy in the case of external vibration; and an electrical eddy current is generated in the mass block (10) to accelerate consumption for the vibration energy and achieve the purpose of shock absorption when the mass block (10) is made from a conductor material.