Functional Fe(III)-phthalocyanine with vinyl groups was synthesized, and the structure was confirmed using Fourier transform infrared spectroscopy and elemental analysis, separately. A novel magnetic polymer microsphere with photoconductivity was prepared by copolymerization of styrene and functional Fe(III)-phthalocyanine, which was used as a comonomer, in the presence of Fe3O4 magnetic fluid. The structure and morphology of magnetic polymer microspheres were determined by infrared analysis, elemental analysis, thermogravimetric analysis, and scanning electron microscopy. The magnetic responsiveness and photoconductivity were studied. The average size of the microspheres was 38.1 mu, with multidistribution. The microsphere has a good magnetic responsiveness and a good photoconductivity at 762.5 nm.