Soft tissue injury is very common and associated with pain, tissue swelling and even malformation if not treated on time. Treating methods include cryotherapy, electrical therapy, ultrasound therapy and anti-inflammatory drug, but none of them is completely satisfying. In this work, for a better therapeutic effect, drug therapy and pulsed electromagnetic field (PEMF) therapy were combined. We constructed a drug delivery system using the tetra-PEG/agar hydrogel (PA). By incorporating Fe
3
O
4
NPs into the hydrogel network, a magnetism-responsive property was achieved in the system. The cytotoxicity and
in vivo
study showed a good biocompatibility of the PA/Fe
3
O
4
hydrogel. A magnetism-controlled release was attained by the incorporation of Fe
3
O
4
. Finally,
in vivo
study showed a better performance of the DS-loaded PA/Fe
3
O
4
compared with the commercially available DS ointment regarding the recovery of the injured soft tissue. Therefore, this magnetism-responsive hydrogel may represent a promising alternative to treat soft tissue injury.