Generally, magnetostriction elastomer were based on magnetic field-induced strains of elastomer matrix, resulting from the rotation of magnetic particle in elastomer matrix. However, such magnetostriction was relatively small and large hysteresis. Here, a new class magnetic rubber foam with cellular structure was developed and synthesized by the one-step solution foam processing. The magnetic rubber foam did not only show larger magnetostriction value of ca.11.0% comparing to previous magnetostriction elastomer, but also was few remanent magnetostriction and rapid response (ca. 1.0s). Furthermore, a new mechanism of magnetostriction was proposed for explaining the high performance magnetostriction. These provide a universal route for the rational design of magnetostriction materials with high performance for various applications.