||We propose an efficient method for controlled generation of field squeezing with cold atomic clouds trapped
close to a superconducting transmission line resonator. It is shown that, based on the coherent strong magnetic coupling between the collective atomic spins and microwave fields in the transmission line resonator, two-mode or single-mode field squeezed states can be generated through coherent control on the dynamics of the system. The degree of squeezing and preparing time can be directly controlled through tuning the external classical fields. This protocol may offer a promising platform for implementing scalable on-chip quantum information processing with continuous variables.