Magnetic neuromodulation enables wireless and deep-brain stimulation, but its real-time in vivo electrophysiological investigation has been limited by severe electromagnetic interference (EMI) from stimulation hardware, which distorts neural recordings. Conventional metal-based electrodes are highly vulnerable to such interference, precluding accurate monitoring of neural dynamics during stimulation. Herein, we present an EMI-shielded neural probe integrating graphene electrodes with copper shielding layers designed to minimize magnetically induced currents and suppress broadband EMI. This probe enables stable, high-fidelity neural recordings under magnetic stimulation. Using this platform, we simultaneously monitored activity in the lateral hypothalamus area (LHA) and ventral tegmental area (VTA) of freely moving mice during the neuron-specific magneto-mechanical stimulation of LHA GABAergic neurons. Recording revealed activation of the LHA-VTA circuit underlying motivated feeding, characterized by elevated firing rates, increased β-band oscillations, and enhanced inter-regional synchrony. These findings provide a robust approach for real-time wireless magnetic deep-brain neuromodulation, opening avenues for mechanistic and therapeutic development.