This paper presents the effort to extend a previously reported code ARCHER, a GPU‐based Monte Carlo (MC) code for coupled photon and electron transport, into protons including the consideration of magnetic fields. The proton transport is modeled using a Class‐II condensed‐history algorithm with continuous slowing‐down approximation. The model includes ionization, multiple scattering, energy straggling, elastic and inelastic nuclear interactions, as well as deflection due to the Lorentz force in magnetic fields. An additional direction change is added for protons at the end of each step in the presence of the magnetic field. Secondary charge particles, except for protons, are terminated depositing kinetic energies locally, whereas secondary neutral particles are ignored. Each proton is transported step by step until its energy drops to below 0.5 MeV or when the proton leaves the phantom. The code is implemented using the compute unified device architecture (CUDA) platform for optimized GPU thread‐level parallelism and efficiency. The code is validated by comparing it against TOPAS. Comparisons of dose distributions between our code and TOPAS for several exposure scenarios, ranging from single square beams in water to patient plan with magnetic fields, show good agreement. The 3D‐gamma pass rate with a 2 mm/2% criterion in the region with dose greater than 10% of the maximum dose is computed to be over 99% for all tested cases. Using a single NVIDIA TITAN V GPU card, the computational time of ARCHER is found to range from 0.82 to 4.54 seconds for 1 × 107 proton histories. Compared to a few hours running on TOPAS, this speed improvement is significant. This work presents, for the first time, the performance of a GPU‐based MC code to simulate proton transportation magnetic fields, demonstrating the feasibility of accurate and efficient dose calculations in potential magnetic resonance imaging (MRI)‐guided proton therapy.