The magneto-optical properties of bilayer phosphorene is investigated by the generalized tight-binding model and the gradient approximation. The vertical inter-Landau-level transitions, being sensitive to the polarization directions, are mainly determined by the spatial symmetries of sub-envelope functions on the distinct sublattices. The anisotropic excitations strongly depend on the electric and magnetic fields. A perpendicular uniform electric field could greatly diversify the selection rule, frequency, intensity, number and form of symmetric absorption peaks. Specifically, the unusual magneto-optical properties appear beyond the critical field as a result of two subgroups of Landau levels with the main and side modes. The rich and unique magneto-absorption spectra arise from the very close relations among the geometric structures, multiple intralayer and interlayer hopping integrals, and composite external fields.