The study of photocatalysis with multi-field assistance will be a significant research direction in the future, given its capacity to effectively enhance the separation and transportation of photogenerated carriers. In this work, a new type of heterojunction photocatalyst Co4PW9/CeO2 with excellent magnetic response, which is constructed based on cobalt modified polyoxometalates (POMs) and semiconductor CeO2, was successfully prepared. Compared to the photocatalysts previously reported, the composite material Co4PW9/CeO2 developed in our study addresses the limitations associated with the recombination of photogenerated electrons and holes inherent in traditional photocatalysis systems. Numerous techniques analysis result of physicochemical characteristics of composites shows that it efficiently facilitates the separation and migration of photogenerated carriers under the influence of magnetic fields. Upon photostimulation, the oppositely directed Lorentz forces acting on the electrons and holes generated by light effectively hinder the recombination of charge carriers. Concurrently, the charge carriers accumulated at the heterojunction interface undergo rapid migration due to the application of a magnetic field, thereby leading to a substantial increase in the catalytic efficiency of the material. The experimental results of methyl orange model photodegradation demonstrated that Co4PW9/CeO2-IV exhibited superior catalytic performance. The free radical masking experiments and EPR analysis indicated that ∙O2− and ∙OH were the primary active radicals in this catalytic process. The possible photocatalytic mechanism of the heterojunction was discussed in detail. A detailed study of separation and migration behavior of photogenerated carriers when influenced by magnetic fields has been conducted, in which offering a novel perspective for enhancing photocatalytic efficiency.