Magnetic sensitive material, giant magnetostrictive powder composite (GMPC), coated fiber bragg grating (FBG) cascaded extrinsic Fabry Pérot interferometer (EFPI) multi-parameter optical fiber sensor is proposed. Which enables the simultaneous detection of temperature, magnetic field and strain. The proposed sensor uses a double FBG cascade EFPI structure including GMPC coated FBG with a wavelength of 1550 nm to achieve magnetic field sensing. The results show that the sensor has a maximum temperature sensitivity of 175.4 pm/℃, a maximum magnetic field sensitivity of -1.54 pm/mT and a maximum stress sensitivity of -9.55 pm/με. The proposed multi-parameter optical fiber sensor solves the multi-parameter cross-sensitivity problem, while the sensor has the characteristics of low cost, interference resistance, compact structure, simple preparation process and long distance transmission. The sensor has promising applications in areas such as biomedicine, environmental detection and military applications, and oil well survey, industrial production, power systems and so on.