A physiotherapy system having magnetotherapy and atomization functions, comprising a control device (1), a medicament injection apparatus (2), and a physiotherapy apparatus (3). The physiotherapy apparatus (3) comprises ultrasonic atomizers (31), a first physiotherapy part (32), physiotherapy magnets (33), and a second physiotherapy part (34). The second physiotherapy part (34) is provided at a preset distance above the first physiotherapy part (32). The ultrasonic atomizers (31) are provided in both the first physiotherapy part (32) and the second physiotherapy part (34). The physiotherapy magnets (33) are provided on the upper surface of the first physiotherapy part (32). The medicament injection apparatus (2) and the ultrasonic atomizers (31) are all electrically connected to the control device (1), and the medicament injection apparatus (2) is further connected to the ultrasonic atomizers (31). The physiotherapy system converts, while providing magnetotherapy using the physiotherapy magnets (33), a liquid medicament into an atomized medicament by means of the ultrasonic atomizers (31) to provide atomization physiotherapy, thereby improving the physiotherapy effect.