Disclosed is method for etching a magnetic tunnel junction. An etching apparatus used comprises a sample loading chamber, a vacuum transition chamber, a reactive ion plasma etching chamber, an ion beam etching chamber, a film coating chamber and a vacuum transport chamber. The method comprises multiple performances of the steps of reactive ion and plasma etching, ion beam etching and film coating. Multiple performances of entry into and exit from the chambers are required during the process, and the delivery between the chambers is performed under vacuum.