With the development of UAV technology, UAV aerial magnetic survey plays an important role in the airborne geophysical prospecting. In the aeromagnetic survey, the magnetic field interferences generated by the magnetic components on the aircraft greatly affect the accuracy of the survey results. Therefore, it is necessary to use aeromagnetic compensation technology to eliminate the interfering magnetic field. So far, the aeromagnetic compensation methods used are mainly linear regression compensation methods based on the T-L equation. The least square is one of the most commonly used methods to solve multiple linear regressions. However, considering that the correlation between data may lead to instability of the algorithm, we use the ridge regression algorithm to solve the multicollinearity problem in the T-L equation. Subsequently this method is applied to the aeromagnetic survey data, and the standard deviation is selected as the index to evaluate the compensation effect to verify the effectiveness of the method.