Synthetic pigment Ponceau 4 R is a commonly used additive in the process of various foods. Due to its potential toxicity to humans, realizing high sensitivity and rapid detection of Ponceau 4 R is extremely important. In this study, we synthesized a novel dual-network magnetic conductive hydrogel (MCHG) via a simple one-pot low temperature stirring method. In MCHG, cationic guar gum (CGG) and β-cyclodextrin (β-CD) formed a primary three-dimensional network cross-linked by N, N-methylene bisacrylamide. A second network was formed in MCHG by CGG, β-CD and magnetite@carboxylate-terminated carbon nanotubes (Fe3O4@COOH-MWCNTs) through hydrogen bonding and electrostatic interactions. Fe3O4@COOH-MWCNTs enhanced cross-linking in the MCHG hydrogel, whilst also boosting the equilibrium adsorption capacity of Ponceau 4 R (61.8 mg g-1), electrical conductivity and electrocatalytic performance. Application of MCHG to a glassy carbon electrode (GCE) created a highly sensitive electrochemical sensor for the detection of Ponceau 4 R. Under optimized testing conditions, the sensor offered a very wide linear range (0.01-200.0 μM) and a low limit of detection (1.8 nM) for Ponceau 4 R. When the sensor was applied to the detection of Ponceau 4 R in spiked honey and liqueur samples, excellent recoveries were achieved (88.2%-107.0%). Furthermore, analyses of commercial biscuit and candy samples using the MCHG/GCE sensor and a national standard ultraviolet spectrophotometry method afforded identical results. Results demonstrate that multifunctional hydrogels show great promise as signal amplification agents in electrochemical detection of target compounds in foods.