The invention discloses an oscillation vibration reducing system based on a magnetorheological technology. The system comprises a vibration arm, a vibration reducing device and a control device; the vibration reducing device comprises a left pressing plate, a right pressing plate, a magnetic separation plate, a pressing plate fastening piece, a double-port iron core, a magnet exciting coil, a coil baffle plate, an upper clamping plate, a lower clamping plate, a clamping plate fastening piece, a triangular bracket, a bracket fastening piece, a support bearing, an oscillation shaft, a vibrator, a magnetorheological elastomer and a pendulum bob. The system can generate a higher magnet exciting magnetic field to improve resistance to extreme vibration conditions, observes the vibration change conditions more directly through the oscillation amplitude of the pendulum bob, reduces the falling risk of the vibrator from the elastomer, and importantly, achieves prominent vibration reducing effect on elastic vibration in actual application.