Magnesium phosphate cement (MPC) continues to gain attention in the field of biomedicine. However, its suboptimal mechanical strength and weak biological activity hinder its wider clinical application. Given the excellent biological characteristics of bioglass fiber (BGF), In this study, magnesium phosphate bone cement (BMPC) containing MPC and BGF with different concentrations (0%, 10%, 20%) are fabricated. Called (MPC, 10BMPC, 20BMPC) respectively. BGF-induced mechanical strengthening is verified through physical and chemical performance tests. In vitro experiments showed that BMPC have better osteogenic properties than MPC and can enhance the proliferation and adhesion capacity of human umbilical vein endothelial cells. In vivo experiment, 20BMPC can significantly promote bone regeneration and vascular network formation, and histological analysis further confirmed the osteogenic capacity of 20BMPC. Transcriptomic analyses confirmed that the activities of the Notch pathway and Hif1 pathway are upregulated in the 20BMPC group, reflecting the strong interconnection between osteogenesis and angiogenesis. 20BMPC, which have the highest BGF content, showed the best performance among all the tested materials. This study showed that BGF improved the mechanical strength of bone cement and enhanced its osteogenic and angiogenic abilities. Therefore, 20BMPC can be used as a new bone repair material.