In this paper, graphene oxide was prepared as raw material by the improved Hummers method. Then graphene-Fe3O4 magnetic carrier was obtained by co-precipitation method, finally TiO2/graphene-Fe3O4 magnetic ternary complex photocatalyst was synthesized by hydrothermal method. The properties of products were characterized by XRD, SEM, and UV-Vis DRS. Photocatalytic activity and stability of the resulting catalyst was evaluated by the degradation of methylene blue solution under visible and UV light. It was found that the degradation reaction accorded with first-order kinetic model. The composite catalyst had better photocatalytic activity than pure TiO2 in the UV and visible light. As a support and electron acceptor, graphene extended and enhanced the band edge absorption of TiO2 into the visible light region, so it could effectively enhance the photocatalytic activity of TiO2. At the same time magnetic Fe3O4 was added to improve its recyclability.