Magnetic particle imaging (MPI) uses nonlinear response signals to noninvasively detect magnetic nanoparticles in space, and its quantitative properties hold promise for future precise quantitative treatments. In reconstruction, the system matrix based method necessitates suitable regularization terms, such as Tikhonov or non-negative fused lasso (NFL) regularization, to stabilize the solution. While NFL regularization offers clearer edge information than Tikhonov regularization, it carries a biased estimate of the 𝒍 𝟏 penalty, leading to an underestimation of the reconstructed concentration and adversely affecting the quantitative properties. In this paper, a new nonconvex regularization method including min-max concave (MC) and total variation (TV) regularization is proposed. This method utilized MC penalty to provide nearly unbiased sparse constraints and adds the TV penalty to provide a uniform intensity distribution of images. By combining the alternating direction multiplication method (ADMM) and the two-step parameter selection method, a more accurate quantitative MPI reconstruction was realized. The performance of the proposed method was verified on the simulation data, the Open-MPI dataset, and measured data from a homemade MPI scanner. The results indicate that the proposed method achieves better image quality while maintaining the quantitative properties, thus overcoming the drawback of intensity underestimation by the NFL method while providing edge information. In particular, for the measured data, the proposed method reduced the relative error in the intensity of the reconstruction results from 28% to 8%.