The remediation of water streams, polluted by various substances, is important for realizing a sustainable future. Magnetic adsorbents are promising materials for wastewater treatment. Although numerous techniques have been developed for the preparation of magnetic adsorbents, with effective adsorption performance, reviews that focus on the synthesis methods of magnetic adsorbents for wastewater treatment and their material structures have not been reported. In this review, advancements in the synthesis methods of magnetic adsorbents for the removal of substances from water streams has been comprehensively summarized and discussed. Generally, the synthesis methods are categorized into five groups, as follows: direct use of magnetic particles as adsorbents, attachment of pre-prepared adsorbents and pre-prepared magnetic particles, synthesis of magnetic particles on pre-prepared adsorbents, synthesis of adsorbents on preprepared magnetic particles, and co-synthesis of adsorbents and magnetic particles. The main improvements in the advanced methods involved making the conventional synthesis a less energy intensive, more efficient, and simpler process, while maintaining or increasing the adsorption performance. The key challenges, such as the enhancement of the adsorption performance of materials and the design of sophisticated material structures, are discussed as well.