We propose an electromagnetically tunable thermal diode based on a two phase multiferroics composite. Analytical and full numerical calculations for prototypical heterojunction composed of Iron on Barium titanate in the tetragonal phase demonstrate a strong heat rectification effect that can be controlled externally by a moderate electric field. This finding is of an importance for thermally based information processing and sensing and can also be integrated in (spin)electronic circuits for heat management and recycling.