Objectives: To investigate the Bianchi Type-III cosmological model in the presence of a magnetic field using the time-dependent deceleration parameter in Sen-Dunn scalar-tensor theory. Methods: In this work, we approach a Bianchi type-III metric with the presence of a magnetic field in the energymomentum tensor. The time-dependent deceleration parameter representing an accelerated expansion proposed by Banerjee and Das (Gen. Relativ. Gravit. 37:10, 2005)is applied to obtain the exact solution of the field equations. Also, to obtain a deterministic solution considering shear scalar proportional to scalar expansion resulting inB = C β . Furthermore, taking the power law relation between the scalar field and the average scale factor, the model's following physical and geometrical properties are computed and discussed with the present observational data. Findings:The model is anisotropic, expanding, shearing, and non-rotating with increasing volume as time tends to infinity from zero volume at t = 0. The model approves an accelerating universe under the ΛCDM model. Novelty: The study provides a better comprehension of cosmic evolution within the Sen-Dunn scalar-tensor gravitational theory context. The model demonstrates its consistency with the cosmological observation.