A multi-bit magnetic memory cell in a stacked structure controlled by at least one read bit line and one read word line is provided. The multi-bit magnetic memory cell includes at least two magnetic memory units and a switching device. Each magnetic memory unit has a magneto-resistance value and at least the two magnetic memory units are stacked to form a circuit of serial connection or parallel connection. The circuit and the read bit line are connected. The switching device is connected to the circuit, wherein the switching device is controlled by the read word line to be conducting or non-conducting so as to connect the circuit with a ground voltage. Furthermore, a plurality of the multi-bit magnetic cells is used to form a magnetic memory device.