Optical glass was very important for the development of optical fiber sensor. In this paper, a new type fluoride glass of ZrF4-BaF2-AlF3-NaF-MgF2(ZBANM) was synthesized for sensing application which has low loss and high magneto-optical coefficient, and it was found that the glass system had at least 60% transmittance from 3.5 μm to 7 μm and smallest verdet constant of 4.628E−5/(rad A−1) at 632.8 nm. The relationship among the compositions of sample glass with its thermal property, optical absorptivity and magnetic-optical coefficients was respectively studied with Thermal Gravimetric-Differential Thermal Analyzer, Fourier Transform infrared spectroscopy and a home-made magneto optical bench. The study indicated that transmittance of fluoride glass structure had been obviously improved after moderate content of Mg2+ and Na+ was doped. Simultaneously, with the molar ratio of alkaline-earth ions Mg increased, the Verdet constant of fluoride glass was increased. And the glass structure with composition of 48%ZrF4-24%BaF2-6%AlF3-8%NaF-14%MgF2 exhibited a small molar absorptivity and the largest Verdet constant of 2.853E−4/(rad A−1).