This article deals with the entropy generation and irreversibility process under the effects of partial slip on magnetic dusty liquid induced by peristaltic wave through a porous channel. The Ree‐Eyring fluid model has been used for a governing flow. Mathematical modelling is based on Ohm's law, continuity equation, Darcy law and momentum equation. Analytical solutions are presented for fluid and particle phase. The effects of different pertinent parameters are considered for Newtonian and non‐Newtonian cases. Numerical integration has been carried out using a computational software to analyse the pumping characteristics. The behaviour of velocity profile, trapping mechanism, entropy generation, Bejan number, temperature distribution, and pressure rise are investigated. From the obtained results, it is noticed that entropy generation and Bejan number enhanced due to the presence of Brinkman number as well as with the strong influence of non‐Newtonian effects. The presence of particles in the fluid decelerates the flow. The magnetic and fluid parameter perform in a similar manner on peristaltic pumping. The temperature profile shows increasing behaviour against higher values of Brinkman number and magnetic field. The present analysis presents different interesting results that help examine dusty fluid with other rheological working fluid models. This work is also applicable in smart fluid pumping systems in aerospace and nuclear industry as well as peristaltic electromagnetic micro‐pumps in bio‐medical engineering.