Magnetoacoustic tomography with magnetic induction (MAT-MI) is a hybrid imaging modality proposed to image electrical conductivity contrast of biological tissue with high spatial resolution. This modality combines magnetic excitations with ultrasound detection through the Lorentz force based coupling mechanism. However, previous studies have shown that MAT-MI method with single type of magnetic excitation can only reconstruct the conductivity boundaries of a sample. In order to achieve more complete conductivity contrast reconstruction, we proposed a multiexcitation MAT-MI approach. In this approach, multiple magnetic excitations using different coil configurations are applied to the object sequentially and ultrasonic signals corresponding to each excitation are collected for conductivity image reconstruction. In this study, we validate the new multiexcitation MAT-MI method for three-dimensional (3D) conductivity imaging through both computer simulations and phantom experiments. 3D volume data are obtained by utilizing acoustic focusing and cylindrical scanning under each magnetic excitation. It is shown in our simulation and experiment results that with a common ultrasound probe that has limited bandwidth we are able to correctly reconstruct the 3D relative conductivity contrast of the imaging object. As compared to those conductivity boundary images generated by previous single-excitation MAT-MI, the new multiexcitation MAT-MI method provides more complete conductivity contrast reconstruction, and therefore, more valuable information in possible clinical and research applications.