The invention discloses a magnetoelectric dipole broadband polarization torsion lens antenna and a phase compensation method thereof. The lens antenna comprises a transmitting antenna and a receiving antenna, wherein the transmitting antenna is composed of a top metal layer, a first dielectric layer, a second metal layer, a first bonding layer, a second dielectric layer and a third metal layer, and the receiving antenna is composed of a fourth metal layer, a third dielectric layer, a third bonding layer, a fifth metal layer, a fourth dielectric layer and a bottom metal layer. A conical medium coating layer is arranged at the upper end of the transmitting antenna and is mainly used for increasing the phase adjusting range; the surface of the top metal layer is provided with an electric dipole, and a magnetic dipole and a central feed structure are also arranged. The conversion from linear polarized waves to circularly polarized waves is flexibly realized by adopting a sequential rotation scheme on a transmitting antenna layer, and a super 2-bit phase compensation scheme is specifically provided, so that relatively wide 3-dB gain and AR overlapping bandwidth (47%) are realized, and only sub-wavelength profile height is realized.