The electric-field-induced in-plane magnetic domain switching in magnetic/ferroelectric (FE) layered heterostructures was studied using phase-field simulations. In particular, we chose the CoFe2O4 (CFO) magnetic film and the Pb(Zn1/3Nb2/3)O3–PbTiO3 (PZN-PT) FE layer as a representative example due to their strong respective magnetoelastic and piezoelectric couplings. In-plane 90° magnetic domain switching in the CFO film was observed when a transverse electric field was applied to the PZN-PT layer. The detailed switching behaviors as well as the corresponding magnetic domain structures are presented for CFO films with different geometric sizes and initial magnetization configurations. The effect of a dynamic electric field on the switching process, i.e., a time-dependent electric-field-induced magnetic domain switching, is also discussed.