The current study deals with a numerical investigation of magnetoconvection and entropy generation within a lid driven square cavity subject to uniform magnetic field and filled with liquid metal. Effects of multiple parameters namely; the Prandtl, Hartmann and Richardson numbers were predicted and analyzed using a numerical methodology based on the finite volume method and a full multigrid technique. The numerical outcome of the present study shows that, the enhancement of Hartmann number declines the heat transfer rate for all liquid metals considered. Moreover, it is observed that augmenting the Richardson number leads to acceleration of the flow with a centro-symmetry for both velocity components. In terms of irreversibility phenomena, it is found that contrarily to the Hartmann parameter, enhancing the Richardson values leads to strengthening the entropy generation rates within the cavity especially for relatively highest values. The comparison of three situations of moving lids considered shows that the case where both horizontal walls are moving in opposite directions appears to strengthen the heat transfer and entropy generation within the cavity.