The invention provides a composite frequency alternating magnetic field generating device. The generating device comprises a three-axis orthogonal magnetic field transmitting antenna group, an excitation current generating circuit group and a magnetic field frequency power control unit; after each transmitting coil of the three-axis orthogonal magnetic field transmitting antenna group is subjected to current excitation of the excitation current generating circuit group to generate a dipole magnetic field; magnetic fields generated by 3*3 transmitting coils are subjected to vector superposition at a spatial point, and a composite frequency magnetic field is spatially generated; the frequency and intensity of the magnetic field can be continuously adjusted under the control of a control signal of the magnetic field frequency power control unit, and the frequency of the generated composite magnetic field is accurate; the requirement of positioning and tracking data output rate can be met, and the fast positioning and tracking can be achieved.