In this paper, the magnetic absorbing coating is integrated into the structural design of metamaterials, and a new low-frequency composite metamaterial absorber is obtained. The absorber is composed of annular resistance film, double-layer magnetic absorbing coating and metal back plate. The absorption properties of the metamaterial absorber are calculated by CST simulation software, and the effects of various structural parameters of the absorber on the absorption properties are studied. The simulation results show that when the thickness of the designed metamaterial absorber is 2.5mm, there are two absorption peaks at 1.9GHz and 4GHz, the reflection loss is less than -8dB and the absorption bandwidth is 5GHz in the frequency range of 1.59-6.59GHz. The absorbing mechanism is discussed through the electromagnetic field distribution of the absorber. The results show that the increase of the absorption bandwidth of the absorber is due to the change of the electromagnetic field distribution of the metamaterial absorber and the loss of the magnetic dielectric layer. Finally, the absorber samples are prepared and tested. The physical test results are basically consistent with the simulation results, which shows that the designed and prepared absorber has excellent low-frequency absorbing performance, and the absorbing bandwidth is greatly improved compared with the magnetic absorbing coating.