The invention relates to a magnetoacoustic emission detection method for fatigue damage of a ferromagnetic metal component. The method comprises the steps of firstly, generating an excitation magneticfield by using a sine wave voltage signal, gradually increasing a loading voltage until a bimodal envelope magnetoacoustic emission signal with an obvious tail peak is obtained, and taking a corresponding voltage peak value as a reference voltage; then, generating an excitation magnetic field by using a square wave voltage signal equal to or higher than a reference voltage, and acquiring a magnetoacoustic emission signal with a T-shaped envelope; and thirdly, calculating the average value of peak-to-peak values of the magnetoacoustic emission signal in multiple periods to serve as a characteristic parameter, and enabling the characteristic parameter to have inflection point change along with the development of the initiation and expansion of the fatigue crack, thereby identifying the initiation and expansion of the fatigue micro-crack, and giving a timely early warning for the failure of the component. According to the invention, the T-shaped envelope signals are obtained through square wave voltage excitation, the waveform of the T-shaped envelope signals is clear and easy to distinguish, on the basis that the reference voltage ensures enough magnetic field intensity, the anti-noise capacity of MAE is greatly improved, MAE fatigue monitoring engineering application is achieved, and the detection result is stable and reliable.