Emerging fields, such as wearable electronics, digital healthcare, the Internet of Things, and humanoid robots, have highlighted the need for flexible devices capable of recording signals on curved surfaces and soft objects. In particular, flexible magnetosensitive devices have garnered significant attention owing to their ability to combine the advantages of flexible electronics and magnetoelectronic devices, such as reshaping capability, conformability, contactless sensing, and navigation capability. Several key challenges must be addressed to develop well‐functional flexible magnetic devices. These include determining how to make magnetic materials flexible and even elastic, understanding how the physical properties of magnetic films change under external strain and stress, and designing and constructing flexible magnetosensitive devices. In recent years, significant progress has been made in addressing these challenges. This study aims to provide a timely and comprehensive overview of the most recent developments in flexible magnetosensitive devices. This includes discussions on the fabrications and mechanical regulations of flexible magnetic materials, the principles and performances of flexible magnetic sensors, and their applications for wearable electronics. Additionally, future development trends and challenges in this field are discussed.This article is protected by copyright. All rights reserved