Magnetic particles (MPs), due to their unique physical and chemical properties, have emerged as promising tools in bone tissue engineering. Their incorporation into scaffolds or uptake by bone cells, combined with exposure to external magnetic fields, has been shown in various studies to enhance cell adhesion, proliferation, and osteogenic differentiation. In this review, the state-of-the-art is presented on the synthesis processes of magnetized cells (MCs) and magnetized scaffolds (MSs), as well as the biological and mechanical effects of scaffold-free MCs, cell-seeded MSs, and MC-seeded MSs under externally applied magnetic fields on bone tissue engineering. Furthermore, the specific applications of these systems is highlighted, such as non-contact mechanical stimulation, and discuss their application to advance bone tissue engineering strategies.