In order to probe dynamical properties of mesoscopic soft matter systems such as polymers, structured liquid, etc., a new atomic force microscopy apparatus with a wide-band magnetic cantilever excitation system was developed. Constant-current driving of an electromagnet up to 1 MHz was implemented with a closed-loop driver circuit. Transfer function of a commercial cantilever attached with a magnetic particle was measured in a frequency range of 1-1000 kHz in distilled water. Effects of the laser spot position, distribution of the force exerted on the cantilever, and difference in the detection scheme on the obtained transfer function are discussed in comparison with theoretical predictions by other research groups. A preliminary result of viscoelasticity spectrum measurement of a single dextran chain is shown and is compared with a recent theoretical calculation.