Effective treatment of glioma; the most aggressive primary brain tumor has been a worrisome medical challenge across the globe. Owing to the architectural uniqueness of the brain coupled with the presence of the blood-brain barrier hijacks the success of conventional treatment strategies. In this context, magnetic nanocarriers (MNCs) have garnered significant attention over the past decade as efficient imaging and targeted drug delivery platforms in glioma. In many recent research, ferrite-based drug carriers have shown preferential anticancer activity against glioma cells both in vitro and in vivo. Under the influence of an externally applied magnetic field, anticancer drug-loaded MNCs could be directed at specific tumor locations and can release the cytotoxic drugs more precisely at the tumor area, thereby reducing off-target toxic effects. Among the ferrite-based MNCs, superparamagnetic nanocarriers are considered more biocompatible. Further, the outer surface of MNCs is coated with biodegradable hydrophilic polymers like PEG to make them suitable for in vivo applications. Additionally, MNCs can be functionalized with specific ligands like monoclonal antibodies, peptides, aptamers, etc., to improve tumor-specific targeting. The chapter highlights research advancements in MNCs-based drug targeting investigated over the past years for the treatment of glioma along with key challenges on the roads of technology transfer for industrial viability.