How to suppress the performance deterioration of thermoelectric materials in the intrinsic excitation region remains a key challenge. The magnetic transition of permanent magnet nanoparticles from ferromagnetism to paramagnetism provides an effective approach for the solution of this challenge. Here we have designed and prepared the magnetic nanocomposite thermoelectric materials consisting of BaFe 12 O 19 nanoparticles (BaM-NPs) and Ba 0.3 In 0.3 Co 4 Sb 12 matrix. It is discovered that the electrical transport behaviors of the nanocomposites have been controlled by the magnetic transition of BaM-NPs from ferromagnetism to paramagnetism. BaM-NPs trap the elctrons below the Curie temperature (T C ) and release the trapped electrons above the T C , playing an "electron repository" role in maintaining high ZT. BaM-NPs produce two types of magnetoelectric effects of electron spiral motion and magnon-drag thermopower besides enhancing phonon scattering. Our work demonstrates that the thermoelectric performance deterioration in the intrinsic excitation region can be suppressed through the magnetic transition of permanent magnet nanoparticles.Thermoelectric (TE) materials have attracted much interest owing to the fascinating applications in recycling utilization of industrial waste heat and automobile exhaust heat, high-efficiency cooling of next-generation integrated circuits, and full-spectrum solar power generation 1,2 . The properties of TE materials are characterized by dimensionless figure of merit ZT=α 2 σT/(κ E +κ L ). Where T, α, σ, κ E and κ L are the absolute temperature, Seebeck coefficient, electrical conductivity, and the electronic and lattice components of the thermal conductivity (κ), respectively. To optimize the thermal properties, various phonon engineering approaches were used to enhance phonon scattering and decrease κ L by having taken advantage of nanoinclusion [3][4][5][6][7][8][9][10][11][12][13] . A series of band structure engineering approaches were employed to improve the electrical properties [14][15][16][17][18][19][20] . Recently, we discovered that the electrical and thermal properties of TE materials could be simultaneously optimized through coexisting multi-localization transport behavior 21 . However, TE materials have been facing a serious problem that the intrinsic excitation unavoidably results in the deterioration of high-temperature performance. Up to now, it remains a key challenge how to suppress the performance deterioration of TE materials in the intrinsic excitation region.Based on the Maxwell's electromagnetic theory, the charged particles (electrons and holes) are confined to circular paths or helixes and even trapped by magnetic impurities owing to the Lorentz force (F L ) 22 . To achieve excellent electrical transport properties, all semiconductor materials including various TE materials had been generally required to eliminate the magnetic impurities in the past decades. This understanding has limited the development of magnetic nanocomposite TE materials. Here we pr...