The fracture damage of oil and gas pipelines usually initiates from micro?cracks. The weak magnetic detection method is of practical significance for the detection of microcracks in long distance oil and gas pipelines. However, the microstructure of pipeline microcracks is complex, and the traditional weak magnetic field detection model is difficult to achieve accurate quantitative calculation of pipeline microcracks. Based on the theory of magnetoelectric coupling, a mathematical model of weak magnetic signal of pipeline micro?crack is established. The weak magnetic signal of micro?crack under different excitation conditions is compared and analyzed. The propagation characteristics of micro?crack at different depths and the signal detection characteristics under different lifting values are analyzed and calculated. The results show that the weak magnetic signal generated by the microcrack is much larger than the geomagnetic field, and the difference increases as the increase of the stress value. The weak magnetic signal increases with the increase of stress value. When the critical point of microcrack propagation is reached, the magnetic energy is released due to microcrack propagation, and the weak magnetic signal decreases with the increase of stress value. After microcrack propagation, the magnetic sensitivity of the material decreases, but the linear characteristics are more obvious. The larger the crack depth is, the stronger the weak magnetic signal is, and the damage is more easily detected. With the increase of the lift value, the weak magnetic signal decreases exponentially, and the detection accuracy of the signal in the linear region is the highest.