In this paper, a mathematical model has been developed for studying blood flow through a porous vessel with a pair of stenoses under the action of an externally applied magnetic field. Blood flowing through the artery is considered to be Newtonian. This model is consistent with the principles of ferro-hydrodynamics and magnetohydrodynamics. Expressions for the velocity profile, volumetric flow rate, wall shear stress and pressure gradient have been derived analytically under the purview of the model. The above said quantities are computed for a specific set of values of the different parameters involved in the model analysis. This serves as an illustration of the validity of the mathematical model developed here. The results estimated on the basis of the computation are presented graphically. The obtained results for different values of the parameters involved in the problem under consideration, show that the flow is appreciably influenced by the presence of magnetic field and the rise in the hematocrit level.