Based on the 14-year photometric CCD monitoring of the contact eclipsing variable star AM Leo of type W UMa carried out author from 2007 to 2020 at the telescopes of the Kourovka observatory UrFU, the presence cyclic variations in brightness of the system with a period of 7.6±0.6 years, not associated with the phenomena of eclipses and tidal deformations of the components, as well as low-amplitude cyclic variations of the orbital period with the same value of the oscillation period, were found. It was concluded that the low-amplitule variations of the brightness and period of the system are due to the cyclic changes of the magnetic field of the components of the AM Leo, which manifests itself in a change in the average surface temperature of the overall system shell due to changes in the area of cold or hot spots on the surface of the components, as well as the influence of the Applegate effect on the system period.