© Published under licence by IOP Publishing Ltd. This paper describes microstreaming flows generated by oscillating interface of magnetic fluid adsorbed on a circular cylindrical permanent magnet in alternating magnetic field. The interface of magnetic fluid adsorbed on the NdFeB magnet responds to the external alternating magnetic flied as harmonic oscillation. The directions of alternating magnetic field are parallel and antiparallel to the magnetic field of permanent magnet. The oscillation of magnetic fluid interface generates streaming flow around the magnet-magnetic fluid element in water. Microstreaming flows are observed with a high-speed video camera analysis system. The flow pattern generated by magnetic fluid motion depends on the Keulegan-Carpenter number and the Reynolds number.