Magnetic field accelerated heat storage technology can effectively use the magnetic field to control the heat transfer process of by adding magnetic nanoparticles into the phase change materials(PCM),which has broad application prospect in solar energy. Based on the energy storage characteristics of PCM, the simulation research on the energy storage characteristics of composite phase change materials was carried out. Based on the thermal conductivity improvement of PCM by magnetic nanoparticles, the influence of magnetic nanoparticles on PCM heat transfer process was studied. At the same time, the influence of magnetic field on the phase transition process was explored. The results show that compared with pure paraffin, the heat storage efficiency of PCM is improved, the volume fraction of liquid phase increases by 4%, and the central region reaches the melting point first. Compared with the condition without magnetic field, adding magnetic field can accelerate the phase transition temperature increase process and improve the liquid phase fraction volume. When the magnetic field changes from horizontal direction to vertical direction, the composite phase change materials have higher heat storage efficiency, and the liquid phase fraction volume is increased by 6.7% and 9.8% respectively when there is no magnetic field. This study provides an effective way to regulate thermal storage utilization. © 2022 Central South University of Technology. All rights reserved.