The invention relates to a method for refining a solidified structure of a laser cladding layer by using an alternating magnetic field and a device thereof, belongs to the technical field of laser processing. A compound coating is prepared on the surface of a substrate in a manner of conventional powder-feed laser cladding; the alternating magnetic field is applied to acting on a laser molten pool during the laser cladding; the powder-feed laser cladding process is carried out under the alternating magnetic field; and the direction of magnetic lines of force generated by the alternating magnetic field is perpendicular to the scanning speed direction of the laser cladding. The device for refining the solidified structure of the laser cladding layer by using the alternating magnetic field comprises a cooler, a CO2 laser, an argon protector, a synchronous powder feeder, a clamping device, an alternating magnetic field, a cladding substrate body and a numerical control operation floor. The method and the device provided by the invention are capable of obviously refining the solidified structure of the cladding layer; when alternating current with certain frequency is introduced into a coil, an alternating magnetic field can be generated between a metal melt and the magnetic field coil; and the intensity of the alternating magnetic field is controlled so as to change a form of the solidified structure of the cladding layer and refine crystalline grains through changing the intensity of an alternating magnetic field. The device provided by the invention is simple, low in investment cost, high in benefit, etc.