<p>Al/steel bimetallic composites were prepared by compound casting, and the effects of the rotating magnetic field on the interfacial microstructure and shear property of bimetallic composite was investigated. The application of rotating magnetic field refined the grain structure of the Al alloy matrix, changed the eutectic Si morphology from coarse lath to needle-like. The rotating magnetic field improved the temperature field and solute distribution of the Al alloy melt, enriched a layer of Si at the interface, and suppressed the growth of intermetallic compounds, the thickness of the interface layer decreased from 44.9&#xa0;μm to 22.8&#xa0;μm. The interfacial intermetallic compounds consisted of <i>η</i>-Al₅Fe₂, <i>θ</i>-Al₁₃Fe₄, <i>τ</i>₆-Al_4.5FeSi, <i>τ</i>₅-Al₈Fe₂Si and τ₃-Al₂FeSi, and the addition of the rotating magnetic field did not change phase composition. The rotating magnetic field improved the stress distribution within the interfacial intermetallic compounds, the presence of high-angle grain boundaries retarded crack extension, and the shear strength was enhanced from 31.27 ± 3&#xa0;MPa to 52.70 ± 4&#xa0;MPa. This work provides a feasible method for preparing Al/steel bimetallic composite with good bonding property.</p>