While it is established that galaxy clusters host magnetic fields of the order of a few μG, both, their origin as well as their role in the intracluster medium (ICM) remain unclear. I will review the observational evidence for magnetic fields in galaxy clusters and present various lines of research that study the effects of magnetic fields in the ICM. Magnetic fields affect the way in which galaxies interact with the ICM, they may render the ICM buoyantly unstable in the presence of anisotropic thermal conduction, and they affect the thermal structure of the gas in cluster cores. Finally, opportunities for future research in this field, in particular in light of new radio telescopes is highlighted.