The electric field manipulation of magnetic and magneto optical properties is currently of great interest for photonics and spintronics devices. In this study, for the first time, we utilized the thermal poling electric field induced polarization and magnetization to manipulate the magnetic and Faraday rotation performance of heavy metal oxide diamagnetic glass. The influence of poling conditions on second & third nonlinearity, structure and defects, thermal, magnetic and magneto optical properties were studied through varies characterization techniques such as scanning electron microscope, X-ray powder diffraction, Raman, maker fringe, electron paramagnetic resonance, X-ray photoelectron spectroscopy, Z-scan, vibration sample magnetometer and Faraday rotation measurements. 5 µm-thickness layer second harmonic generation intensity increased with the voltages from 1 kV to 3 kV, while at 300°C second harmonic generation the intensity decreased. Third nonlinearity coefficient and nonlinear refractive index were calculated to be much higher than that of un-poled glass through the Z-scan method. X-ray photoelectron spectroscopy, Raman and electron paramagnetic resonance analysis revealed the center-asymmetric network of glass, non-bridging oxygen and defect centers after thermal poling. The modification on glass structure resulted in the enhancement of magnetic moment of glass with electric induced magnetic field changes electric coupling effect as high as 15%. Faraday rotation measurement indicated that polarization dominantly contributed to the enhancement of V, at the same time, the V also was impacted by glass transmittance and crystal scattering. The optimized thermal poling condition was determined to be 3 kVand 260°C for 4 hours, under which thermally poled glass presented the strong second harmonic generation intensity (2.3 pm/V), highest Verdet constant (0.2382 min/G.cm) and improved diamagnetic susceptibility (0.424×10−5 emu/mol). Diamagnetic glass with these properties is attractive for magneto optical sensing and nonlinear applications.