An experiment was conducted on the laser-metal inert gas hybrid welding of 7075 aluminum alloy under alternating magnetic field assistance, in order to investigate the effect of the magnetic field on weld porosity defects in aluminum alloy. The internal porosity of the weld seam under different magnetic field conditions was compared and analyzed through radiographic inspection. The impact of the alternating magnetic field on the arc shape and keyhole dynamic behavior was observed and analyzed by high-speed photography. The results showed that without a magnetic field, the arc shape underwent continuous scaling during the transition of molten droplets, the keyhole root was unstable, and there were a large number of process-induced porosities distributed in the center of the weld. When the magnetic field strength was 10 mT, the keyhole was completely unstable, and the size of the internal porosities in the weld seam significantly increased while the number of porosities decreased. At a magnetic field strength of 20 mT, the arc exhibited a rotating oscillation behavior, the keyhole was in a stable open state, and no porosity was detected in the weld seam. Upon reaching a magnetic field strength of 30 mT, the keyhole was also in a root unstable state, but the collapse and recombination speed of the keyhole were faster than that without a magnetic field, and the size and number of internal porosities in the weld seam significantly decreased.