How can I measure AC magnetic field using linear hall effect sensor with the arduino?
As an indicator of field strength the SS49E will be just fine, but if you want to calibrate this as a gauss meter then it may be more problematic. I assume you incorrectly used analog output where you meant analog input in your question.  

The SS49E outputs about half supply voltage (you are likely to see 2.5 +/- 0.1 commonly among devices) with zero gauss detected. You will need to provide an offset and gain facility to get any reasonable calibration.

A more suitable (though hard to get at times) linear Hall Effect device would be the WSH315 which has flexible VDD offset adjustment which can be made to track your A/D reference.