The increase of magnetic field of ferromagnetic components under service load and geomagnetic field is induced by the residual magnetic induction and spontaneous magnetization. The stress concentration positions can be found by detecting the magnetic field and the fracture can be avoided. The variation of the residual magnetic intensity of bearing carriers under different damage conditions is studied in this paper; the statistical characteristic of the residual magnetic intensity of the specimens in different residual deformations is got, and a concept of residual magnetic intensity standard deviation is put forward with a lot of experiments and in-depth theoretic analysis. The results indicate that the curves of residual magnetic intensity standard deviation appear obvious turning points when the specimens reach the yield point in different original magnetic field conditions, and that the function between residual magnetic intensities standard deviation, tensile load and strain is established. Therefore, the plastic deformation can be judged by the variation of the magnetic field in their service process, and the damage level can be evaluated consequently, which gives a new reliable method to estimate the deformation of ferromagnetic material.