The diffusion of biologically active molecules is a ubiquitous process, controlling many mechanisms and the characteristic time scales for pivotal processes in living cells. Here, we show how a high static magnetic field (MF) affects the diffusion of paramagnetic and diamagnetic species, including oxygen, hemoglobin, ROS and drugs. We derive and solve the equation describing diffusion of such biologically active molecules in the presence of a MF as well as reveal the underlying mechanism of the MF effect on diffusion. We find that a high MF accelerates diffusion of diamagnetic species while slowing the diffusion of paramagnetic molecules in cell cytoplasm. When applied to oxygen and hemoglobin diffusion in red blood cells, our results suggest that a MF may significantly alter the gas exchange in an erythrocyte and cause swelling. Our prediction that the diffusion rate and characteristic time can be controlled by a MF opens new avenues for experimental studies foreseeing numerous biomedical applications.SignificanceWe show that diffusion processes of biologically active molecules (hemoglobin, oxygen, reactive oxygen species, etc.) and paramagnetic drugs can be remotely controlled by high static magnetic fields. Since diffusion processes determine the reference time scale for all other processes in living cells as well as the propagation speed of signaling molecules during cell-to-cell communication, our results – the magnetic field dependences of the diffusion rate and characteristic time – may serve as an important key for revealing and understanding the mechanisms of magnetic field action on living cells, tissue and organisms.