Provided are a method and device for magnetic resonance parameter imaging, medical equipment, and a storage medium. The method comprises: performing acceleration sampling with respect to an image to be reconstructed of an observation target in a preset parameter direction to acquire K-space data corresponding to the image to be reconstructed, calculating, on the basis of the K-space data and of a parameter relaxation model, a parameter value and a compensation coefficient of the image to be reconstructed, generating, on the basis of the compensation coefficient, a compensation image corresponding to the image to be reconstructed, calculating, on the basis of the compensation image, respectively a low-rank part and a sparse part of the image to be reconstructed so as to update the compensation image for multiple times, updating, on the basis of the updated compensation image, the image to be reconstructed, when the updates of the image to be reconstructed converge, fitting and outputting a parameter image of the observation target, otherwise, calculating, on the basis of the parameter relaxation model, a parameter value and a compensation coefficient of the updated image to be reconstructed, and skipping to the step of generating a compensation image, thus effectively increasing the efficiency and precision of magnetic resonance parameter imaging.