This review provides detailed insight on the effects of magnetic fields on germination, growth, development, and yield of plants focusing on ex vitro growth and development and discussing the possible physiological and biochemical responses. The MFs considered in this review range from the nanoTesla (nT) to geomagnetic levels, up to very strong MFs greater than 15 Tesla (T) and also super-weak MFs (near 0 T). The theoretical bases of the action of MFs on plant growth, which are complex, are not discussed here and thus far, there is limited mathematical background about the action of MFs on plant growth. MFs can positively influence the morphogenesis of several plants which allows them to be used in practical situations. MFs have thus far been shown to modify seed germination and affect seedling growth and development in a wide range of plants, including field, fodder, and industrial crops; cereals and pseudo-cereals; grasses; herbs and medicinal plants; horticultural crops (vegetables, fruits, ornamentals); trees; and model crops. This is important since MFs may constitute a non-residual and non-toxic stimulus. In addition to presenting and summarizing the effects of MFs on plant growth and development, we also provide possible physiological and biochemical explanations for these responses including stress-related responses of plants, explanations based on dia-, para-, and ferromagnetism, oriented movements of substances, and cellular and molecular changes.