Weather and climate extremes, such as droughts and heat waves, have been commonly characterized by different properties, including frequency, duration, and magnitude. The magnitude is among the most important properties that determine the impact of extremes. Compound dry and hot events may cause detrimental impacts on water resources, energy security, crop production and food security, and have been receiving increasing attention in recent years. Although extensive studies have been conducted to investigate the magnitude of individual droughts or hot extremes, evaluation of the magnitude of compound dry and hot events has received limited attention. In this study, we develop a dry-hot magnitude index (DHMI) to characterize the magnitude of compound dry and hot events, using monthly precipitation and daily maximum temperature, which takes into account both dry and hot conditions. The DHMI is used to analyze the spatial and temporal patterns of the magnitude of compound dry and hot events in China during summer (June, July, and August) for the period of 1961-2013. Results show that high magnitudes of compound dry and hot events mainly occur in northeastern and southwestern China, with higher magnitudes mostly observed in recent decades since the 1990s. The proposed magnitude index has potential to be a useful tool for analyzing compound dry and hot events and their impacts.