Perovskite photovoltaics have drawn greatest attention in both academic and industrial sectors in the past decade. To date, impressive device performance has been realized from the state-of-the-art device architectures through morphological manipulation and generic interface engineering. In this study, we report enhanced device performance of perovskite photovoltaics by magnetic field aligned CH 3 NH 3 PbI 3 mixed Fe 3 O 4 magnetic nanoparticles (MNPs) (CH 3 NH 3 PbI 3 :Fe 3 O 4 ) composite thin films. It is found that magnetic field aligned CH 3 NH 3 PbI 3 :Fe 3 O 4 composite thin films possess superior film morphology, boosted and balanced charge carrier mobility, suppressed trap density. Moreover, perovskite photovoltaics by magnetic field aligned CH 3 NH 3 PbI 3 :Fe 3 O 4 composite thin films exhibit suppressed charge carrier recombination and shorter charge carrier extraction time. As a result, perovskite solar cells by magnetic field aligned CH 3 NH 3 PbI 3 :Fe 3 O 4 composite thin films exhibit 20.23% power conversion efficiency with significantly reduced photocurrent hysteresis. Moreover, perovskite photodetectors by magnetic field aligned CH 3 NH 3 PbI 3 :Fe 3 O 4 composite thin films exhibit a photoresponsivity of 858 mA W -1 , a photodetectivity over 10 13 Jones (1 Jones = 1 cm Hz 1/2 W -1 ) and a linear dynamic range over 160 dB at room temperature. All these device performance parameters are significantly better than those by pristine CH 3 NH 3 PbI 3 thin film. Thus, our studies provide a facile way to boost device performance of perovskite photovoltaics.