In the present work, a strong magnetic field was applied near the outlet of the water jet nozzle to promote the generation of multifunction cavitation bubbles. Because these bubbles contained charged species, the bubbles experienced a Lorentz force due to the magnetic field and collided with greater force. As such, the internal bubble pressure exceeded the threshold value required for fusion to occur. The expansion of these charged bubbles in response to ultrasonic irradiation affected adjacent charged bubbles so that the energy density of the atoms in the bubbles was greater than the fusion threshold. The results of this work strongly suggest that the formation of bubbles via the UTPC process in conjunction with a strong magnetic field may result in bubble fusion.