Magnetic nanomaterials, distinguished by their unique magnetic phenomena, particularly their magnetically actuated capabilities, have found widespread application in the field of nanomedicine. Compared with alternative driving mechanisms, magnetic actuation as a remote, highly permeable, and precisely controllable driving strategy endows nanomaterials with temporal and spatia mobility, making it possible to initiate and cease multiple forms of movement in vivo at will. When coupled with cutting‐edge diagnostic and treating techniques including but not limited to magnetic resonance imaging, magnetothermal therapy, and magnetoelectric stimulation, magnetically actuated nanomaterials offer the potential for visual analysis, provision of reliable molecular information, and effective disease or tissue damage intervention. This review comprehensively outlines the synthesis methodologies, functional strategies, and biomedical applications of magnetically actuated nanomaterials within nanomedicine. Additionally, the future developments and applications of biocompatible magnetically actuated nanomaterials, especially in response to time‐varying magnetic fields, are anticipated.