A new type of tunable bistable metamaterial (TBM) is proposed which is made by embedding magnets into the flexible cellular bistable materials with double tilted beams. To find out the effect of magnets on the mechanics of TBM, several samples are fabricated and magnets with different residual flux density, which is used to describe the magnetic field strength, are embedded. Quasi‐static uniaxial compression tests are performed and the results show that the bistability of the TBM is successfully adjusted by embedding magnets. Furthermore, both numerical and analytical simulations are carried out to further understand the bistable property and energy absorption ability of the proposed metamaterial.