Though ubiquitous in many engineering applications, including drug delivery, the compound droplet hydrodynamics in confined geometries have been barely surveyed. For the first time, this study thoroughly investigates the hydrodynamics of a ferrofluid compound droplet (FCD) during its migration in a microchannel under the presence of a pressure-driven flow and a uniform external magnetic field (UEMF) to manipulate its morphology and retard its breakup. Finite difference and phase-field multiple-relaxation time lattice Boltzmann approaches are coupled to determine the magnetic field and ternary flow system, respectively. First, the influence of the magnetic Bond number (
${Bo}_m$) on the FCD morphology is explored depending on whether the core or shell is ferrofluid when the UEMF is applied along
$\alpha =0^\circ$ and
$\alpha =90^\circ$ relative to the fluid flow. It is ascertained that imposing the UEMF at
$\alpha =0^\circ$ when the shell is ferrofluid can postpone the breakup. Intriguingly, when the core is ferrofluid, strengthening the UEMF enlarges the shell deformation. Afterwards, the effects of the capillary number (
${Ca}$), density ratio, viscosity ratio, radius ratio and surface tension coefficients are scrutinised on the FCD deformation and breakup. The results indicate that augmenting the core-to-shell viscosity and density ratios accelerates the breakup process. Additionally, surface tension between the core and shell suppresses the core deformation. Moreover, increasing the
${Ca}$ intensifies the viscous drag force exerted on the shell, flattening its rear side, which causes a triangular-like configuration. Ultimately, by varying
${Bo}_m$ and
${Ca}$, five distinct regimes are observed, whose regime map is established.