The research of functional magnetic materials has become a hot topic in the past few years due to their fast, long‐range, and precise response in diverse environments. Functional magnetic devices using different magnetic materials and structure designs have been developed and demonstrated good advantages to enable various applications. However, the required magnetic materials and structure designs for diverse functions also increase the fabrication difficulties while developing such devices. 3D printing technology presents a powerful and promising manufacturing approach to rapidly fabricate functional magnetic devices of complex geometries in multiple materials and scales. Here, various 3D printing strategies and the underlying mechanisms of functional magnetic materials for several primary applications are systematically reviewed, including, magnetic anisotropy for property enhancement, magnetic robots, magnetic components in electronics, and magneto‐thermal devices. Finally, the current challenges and future perspectives in engineering 3D printed functional magnetic devices are discussed.