Lithium-ion batteries (LIBs) are currently the fastest growing segment of the global battery market, and the preferred electrochemical energy storage system for portable applications. Magnetism is one of the forces that can be applied improve performance, since the application of magnetic fields influences electrochemical reactions through variation of electrolyte properties, mass transportation, electrode kinetics, and deposits morphology. This review provides a description of the magnetic forces present in electrochemical reactions and focuses on how those forces may be taken advantage of to influence the LIBs components (electrolyte, electrodes, and active materials), improving battery performance. The different ways that magnetic forces can interact with LIBs components are discussed, as well as their influence on the electrochemical behavior. The suitable control of these forces and interactions can lead to higher performance LIBs structures and to the development of innovative concepts.