We investigate the quantum correlated Lambda(Lambda) over bar production in the reaction e(+)e(-) -> J/psi -> Lambda(Lambda) over bar. Since the Lambda or (Lambda) over bar has a nonzero magnetic moment, its spin will undergo a Larmor precession in the magnetic field of the detector, such as the BESIII experiment. Because of the spin precession, the angular distribution of the Lambda and (Lambda) over bar is slightly modified. Therefore, we obtain the corresponding term of the modified angular distribution due to the effect of the Larmor precession. We also estimate its potential effect on the measurements of CP violation, as well as the decay asymmetry parameter and polarization of Lambda. The polarization of the Lambda or (Lambda) over bar at the production vertex will rotate around the B-field axis, over an angle depending on the flight length, but it still could be measured by fit to the corrected angular distribution. Of important note, we conclude that a nonzero CP asymmetry of order 10(-4) will be caused once neglecting spin precession of the Lambda and (Lambda) over bar in the e(+)e(-) -> J/psi -> Lambda(Lambda) over bar process. The size of this CP asymmetry is several times that of predicted within Standard Model in the hyperon decay. Although this effect is small, it will play an important role in future high precision experiments, such as the super-taucharm factory.