In this chapter, we review the quantitative and qualitative aspects of describing the properties of magnetic solids on the basis of electronic Hamiltonian that describes the energy states of a magnetic system using both orbital and spin degrees of freedom. To quantitatively discuss a magnetic property of a given magnetic system, one needs to generate the spectrum of its energy states and subsequently average the properties of these states with each state weighted by its Boltzmann distribution factor. Currently, this is an impossible task to achieve on the basis of an electronic Hamiltonian, so it is necessary to resort to a simple model Hamiltonian, that is, a spin Hamiltonian that describes the energy states of a magnetic system using only the spin degree of freedom. We show that a spin Hamiltonian approach becomes consistent with an electronic Hamiltonian approach if the spin lattice and its associated spin exchange parameters, to be used for the spin Hamiltonian, are determined by the energy‐mapping analysis based onDFTcalculations. The preferred spin orientation (i.e., the magnetic anisotropy) of a magnetic ion is not predicted by a spin Hamiltonian because it does not include the orbital degree of freedom explicitly. In contrast, the magnetic anisotropy is readily predicted by electronic structure theories employing both orbital and spin degrees of freedom, if one takes into consideration the spin–orbit coupling (SOC), , of a magnetic ion where and are, respectively, the spin and orbital operators and λ theSOCconstant. It was shown that the preferred spin orientation of a magnetic ion can be predicted and understood in terms of theHOMO–LUMOinteractions of the magnetic ion by takingSOC, , as perturbation. A spin Hamiltonian gives rise to the spin‐half misconception, namely, the blind belief that spin‐half magnetic ions do not possess magnetic anisotropy that arise fromSOC. This misconception contradicts not only experimental observations on spin‐half ions but also theoretical results based onDFTcalculations and perturbation theory analyses based on an electronic Hamiltonian. This misconception is a direct consequence from the limitedness of a spin Hamiltonian that it lacks the orbital degree of freedom. We show that the magnetic properties of 5dion oxides are better explained by theLS‐coupling than by thejj‐coupling scheme ofSOC, and the spin‐orbital entanglement of 5dions is not as strong as has been assumed.