We investigate the tunneling conductance of monolayer black phosphorene through double magnetic barriers modulated by the electrostatic barrier. This magnetic barrier is generated by two ferromagnetic strips deposited on monolayer phosphorene and can form parallel (P) and antiparallel (AP) structures. Applying a voltage to a ferromagnetic strip will create an electrostatic barrier. The transmission of P and AP magnetic structures is calculated using the transfer matrix. Tunneling conductance is given by Landauer–Büttiker theory. Our results show that under double electrostatic barriers modulation, the AP conductance of the system is zero except for sharp peaks, while the P conductance has a certain value, which implies a large tunneling magnetoresistance. However, in the case of single electrostatic barrier modulation, the conductance becomes flat. For the Fermi level in the valence band, the movement of the Fermi level leads to the severe mismatching of transmitted wave vectors in the barrier region, resulting a positive and negative oscillation magnetoresistance. This may be useful for designing memory using a two-dimensional electron gas system.