Focusing on the key equipment of targeting therapy, a novel method of adopting bipolar pulse current to generate guiding magnetic field was proposed. A high targeting oscillating magnetic field generator also was developed. These innovations were used to control the focus and to release magnetic drugs to in an effort to treat cancer. Based on the proposed transmission circuit, the load inductance energy feedback circuit reduces loss, improves the current amplitude and strengthens the magnetic field. Work frequency of the designed equipment is 0.125 Hz to 32 Hz, and the magnetic induction intensity reaches 1.3 T. Experimental results show that, compared to sinusoidal and unipolar pulse magnetic fields, the bipolar steep pulse magnetic field is more suitable for magnetic drug focus and targeting therapy, and has better performance of controlling the focus and release of magnetic particles.