Magnetic field‐enhanced catalysis is an advanced strategy for enhancing catalytic reactions that have emerged in recent years, presenting great potential for alleviating the energy crisis and environmental pollution. Under favorable non‐contact magnetic field conditions, the external magnetic field that produces the enhancement effect can provide additional energy to the catalytic system as an additional driving force for the catalytic reaction and thus positively improve the overall catalytic efficiency. Exploring the effects of magnetic fields on multiscale catalytic reactions can broaden the practical applications of various catalytic reactions. This review begins with a brief introduction and analysis of possible mechanisms for magnetic field‐enhanced catalytic reactions (including spin polarization theory and electromagnetic theory), a description of the forces generated by magnetic fields, nano‐ and microscale magnetic materials, and various commonly used magnetic manipulation systems, and an overview of the application of magnetic fields to enhanced photocatalytic, electrocatalytic and biocatalytic reactions. Finally, the challenges and future prospects for advancing magnetic field‐enhanced catalytic reactions are presented. It is hoped that this review will provide a reference for the development and in‐depth study of magnetic field‐assisted enhanced catalytic reactions to improve catalytic efficiency.