The magnetic anchoring system (MAS) for reef limestone reinforcement is proposed in this paper. The mix proportion of the artificial reef limestone was designed, and the parameters of the MAS were determined through orthogonal tests. The effect of the magnetic field on the anchoring materials was analyzed using XRD and the nitrogen adsorption method. The results indicate that the designed artificial reef limestone can be used in place of in situ rock samples for laboratory tests. In air, the bond samples of the anchoring material and reef limestone experienced cohesion failure of the artificial reef limestone. However, in seawater, it was cohesion failure of the reef limestone and interface adhesion failure. During the pull-out test, the reef limestone specimen reinforced by MAS showed interface failure between the anchoring material and the rock mass. The Fe3O4powder present in the anchoring material has the ability to migrate towards the anchor, thereby enhancing the density of the anchoring material. This, in turn, helps to eliminate the free water present in the anchor hole, and consequently, improves the bonding effect of the interface. The reinforcement effect of MAS is particularly advantageous for rock reinforcement under complex working conditions.