Axial liquid dispersion was experimentally studied in liquid-solid and gas-liquid-solid magnetically stabilized beds using the ferromagnetic catalyst of SRNA-4 as the solid phase. The effects of operating factors and fluid characters, such as superficial liquid velocity, superficial gas velocity, magnetic field intensity, liquid viscosity and surface tension, on axial dispersion coefficients of liquid were investigated. The dispersion coefficients increased with the increase of superficial liquid velocity and superficial gas velocity, and decreased with the increase of liquid viscosity, liquid surface tension and magnetic field intensity. A correlation equation of Peclet number was obtained for both liquid-solid and gas-liquid-solid magnetically stabilized bed.