Ag/BiVO4/Mn1−xZnxFe2O4 was synthesized with a dip-calcination in situ synthesis method. This work was hoped to provide a simple method to synthesis three-phase composite. The phase structure, optical properties and magnetic feature were confirmed by X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR), X-ray photoelectron spectrometer (XPS), transmission electron microscopy (TEM), ultraviolet-visible diffuse reflectance spectrophotometer (UV-vis DRS), and vibrating sample magnetometer (VSM). The photocatalytic activity was investigated by Rhodamine B (RhB) photo-degradation under visible light irradiation. The photo-degradation rate of RhB was 94.0~96.0% after only 60 min photocatalytic reaction under visible light irradiation, revealing that it had an excellent visible-light-induced photocatalytic activity. In the fifth recycle, the degradation rate of Ag/BiVO4/Mn1−xZnxFe2O4 still reached to 94.0%. Free radical tunnel experiments confirmed the dominant role of •O2− in the photocatalytic process for Ag/BiVO4/Mn1−xZnxFe2O4. Most importantly, the mechanism that multifunction Ag could enhance photocatalytic activity was explained in detail.