In this paper thermal buckling of a thin cylindrical panel made of piezo-magnetic two dimensional functionally graded materials (2D-PFGM) subjected to magnetic field have been investigated. The material properties of structure assumed varying by exponential functions of volume fraction in longitudinal and circumferential directions. In order to solving the problem at the first, the equilibrium equations have been derived by the first order shear deformation theory by concerning the nonlinear terms from the strain-displacement relations. In the next step, by giving the incremental changes on the displacement components and calculating the resultant forces and moments, using Lagrang, s equations on the second functional of potential energy the stability equations have been derived. After solution the mentioned equations by generalized differential quadrature method based on the simply supported boundary conditions the critical buckling temperature has been determined. By solving the numerical example in special cases and comparing the obtained results we confident from the method of analysis. At the end, effect of geometrical features, applied voltage on the external surface of panel, and changing the material properties on the critical buckling load have been investigated.