The present invention relates to a method for recovering floating oil on sea and its equipment. Said invention utilizes the magnetic fluid power produced by magnetic fluid propulsion device to suck oil contaminated sea water from front end, and the oil contaminated sea water is pressurized and accelerated in the magnetic fluid channel then fed into the oil-water separation chamber, the floating oil is centralized in the upper portion, and discharged into the oil-recovered tank, and the deoiled water can be ejected from tail portion. Said equipment includes water inlet, guide section, magneticfluid propulsion device, oil-water separator, oil-recovered tank and tail ejeclor nozzle.