In this article, we introduce the theory for vibro-magnetometry (VM) with computational simulations for an idealized experimental setup. A method based on acoustic radiation force and magnetic measurement has been proposed for interrogating the mechanical vibrations of a target immersed in fluid medium. In this method, ultrasound radiation is used to exert a low-frequency (in kHz range) force on a rigid magnetized target immersed in a viscoelastic medium. In response, the target vibrates sinusoidally in a pattern determined by viscoelastic properties of the medium. The magnetic field resulting from target vibration is related to both the ultrasonic and low-frequency (kHz range) mechanical characteristics of the medium. We report the relationship between the magnetic field signal and the incident ultrasonic pressure field in terms of the mechanical parameters of the medium. Simulations were conducted to demonstrate a simple approach based on using amplitude-modulated ultrasound to generate a dynamic acoustic radiation force on a magnetic target. The magnetic field generated by vibration of this target is then obtained and used to estimate the radiation-force-induced displacement as a function of time. It was observed that the intensity of the dynamic component of the magnetic field caused by the acoustic excitation is high enough to be registered by a conventional magnetic sensor. When a low stress is applied on a reactive magnetic target embedded in the medium, the subsequent oscillating magnetic field is measured by a dedicated magnetic sensor, yielding the applicable mechanical information of the host medium. The proposed methodology presents a powerful tool for evaluation of acoustic radiation force as well as the mechanical properties of soft materials.