The invention discloses a moxibustion thermomagnetic physiotherapy paste. The moxibustion thermomagnetic physiotherapy paste sequentially comprises a thermal therapy moxibustion layer, a far infrared layer and a magnetic therapy layer from bottom to top, wherein the thermal therapy moxibustion layer is composed of a nonwoven fabric layer and an implant, the nonwoven fabric layer wraps the implant, and the implant is composed of iron powder, activated carbon, water, vermiculite, an inorganic salt, high molecular water-absorbing resin and moxa, and the mass ratio of iron powder to activated carbon to water to vermiculite to the inorganic salt to high molecular water-absorbing resin and moxa is (5-20):(4-12):(1-7):(1-7):(2-10):(1-4):(1-4). The moxibustion thermomagnetic physiotherapy paste integrates multiple effects of thermal therapy, moxibustion, far infrared therapy and magnetic therapy, has multiple effects of stimulating local blood and lymph circulation, warming, easing pain, activating cell tissues, improving microcirculation and promoting metabolism, can be used for alleviating and treating pain and swelling which are caused by muscle strain and rheumatism and also can be applicable to dysmenorrhea and uterus warming of a puerpera; and temperature can be regulated by a user according to self condition, thereby being more convenient to use.