We study the effects of magnetic Feshbach resonance on the shifts in photoassociation (PA) spectra of ultracold Cs atoms. A series of atom loss spectra show a linear variation of the frequency shift with the PA laser intensity at different magnetic fields near the d-wave Feshbach resonance of optically trapped Cs atoms. The magnetic field-dependence of the slope of the shift on the PA laser intensity exhibits a dispersive change near the Feshbach resonance. The theoretical formula derived from a model based on Fano resonance fits well with the experimental data. Using a model rectangular potential with tunable well depth and applying the Franck-Condon principle, we obtain numerical results, which are found to be largely in disagreement with the experimental findings.