This study has been conducted to focus on magnetohydrodynamic flow of a nanoliquid through a microchannel in the presence of a magnetic field. In this article, carbon nanotubes suspended in an aqueous medium were our considered fluid, and we focused on both singlewall and multiwall carbon nanotubes. The numerical calculations have been made via the fourth‐ and fifth‐order Runge–Kutta–Fehlberg method. The flow of the nanoliquid in a microchannel with porosity has been scrutinized with the existence of mutual effects, like, the nanoparticle volume fraction, suction or injection, thermal‐dependent heat source, convective boundary conditions, Darcy friction factor, and thermal motion of the nanoparticles. The influence of every major parameter on the profile of momentum, temperature, and entropy generation has been displayed graphically, and we discuss their physical aspects. The numerical outcomes demonstrated that the momentum profile augmented with the buoyancy force, angle of inclination, and Darcy number. Thermal energy was enriched with the heat source parameter, Darcy number, and Hartmann number. The irreversibility rate declined with the volume fraction of nanoparticle and radiation parameter, while it increases with the buoyancy force, Eckert parameter, and Darcy friction factor.