We develop and discuss a model formalism to study the properties of mass outflows that are emerged out from a relativistic, magnetized, viscous, advective accretion flow around a rotating black hole. In doing so, we consider the toroidal component as the dominant magnetic fields and synchrotron process is the dominant cooling mechanism inside the accretion disk. With this, we self-consistently solve the coupled accretion-ejection governing equations in the steady state and obtain the shock-induced global inflow-outflow solutions in terms of the inflow parameters, namely plasma-β (=pgas /pmag, pgas and pmag being gas and magnetic pressures), accretion rates (ṁ) and viscosity (αB), respectively. Using these solutions, we compute the mass outflow rate (Rṁ, the ratio of outflow to inflow mass flux) and find that mass loss from the magnetized accretion disk continues to take place for wide range of inflow parameters and black hole spin (ak). We also observe that Rṁ strongly depends on plasma-β, ṁ, αB and ak , and it increases as the magnetic activity inside the accretion disk is increased. Further, we compute the maximum mass outflow rate (R
max
ṁ) by freely varying the inflow parameters and find that for magnetic pressure dominated disk, R
max
ṁ ~ 24% (~ 30%) for a
k=0.0 (0.99). Finally, while discussing the implication of our model formalism, we compute the maximum jet kinetic power using R
max
ṁ which appears to be in close agreement with the observed jet kinetic power of several black hole sources.