We propose a humidity regulation system that uses the magnetocaloric effect to adsorb and desorb water on a sorbent. The magnetocaloric effect plays the same role as a heater or a cooler in a conventional system. Magnetic materials coated with the sorbent are heated by magnetizing and cooled by demagnetizing. During magnetization, the moisture in the sorbent is released into the air, and during demagnetization, the moisture in the air is adsorbed on the sorbent. We investigate the performance of the system and the effect of the relative humidity, air temperature, flow rate of air and applied magnetic field flux density on the dehumidification and humidification. In addition, the heat transfer and moisture balance characteristics are numerically analyzed.