According to the controllable and reversible characteristics of magnetorheological fluid under the effect of magnetic field, a multi-stage pressure regulating magnetorheological valve, with three coils on spool of valve and four outer ring variable damping gap formed with the body of valve, was proposed based on the traditional structure of magnetorheological valve. The electromagnetic simulation was carried out on the multi-stage pressure regulating magnetorheological valve by using ANSYS finite element simulation (FEM) software, and the distribution of magnetic field lines and magnetic flux density were obtained. Based on the post-processing data of FEM simulation on the valve, the optimal structural parameter of the magnetorheological valve was optimized, and the optimal structure parameters of the magnetorheological valve were obtained. Furthermore, the optimized magnetic induction intensity of outer ring damping gap and pressure drop of inlet and outlet were compared and analyzed with the previous ones. The related optimization design methods and ideas can provide some significant guidance to design the magnetorheological valve.