Magnetic particles (MPs) have proved to be valuable tools for manipulation of cells or biomolecules, for transportation of chemical substances or transfer of energy to defined target sites in biological systems, and for clinical diagnostics and therapeutics—both
in vitro
as well as
in vivo
. MPs receive their magnetic properties and responsiveness to magnetic fields most often from the proven biocompatible iron oxides magnetite (Fe
3
O
4
) and maghemite (γ‐Fe
2
O
3
). The small size of MPs allows them to pass through capillary vessels during blood circulation. In nanoparticulate form or under the influence of strong magnetic fields, some MPs can even extravasate through capillary walls into surrounding tissue and reach many of the cells in the human body. Magnetically assisted delivery of chemo‐ or radiotherapeutics to as well as the generation of heat (hyperthermia) at defined target sites in the body can thus be achieved for treatment purposes, such as tumor therapy. Furthermore, MPs can serve as site‐ and function‐specific contrast agents and thus enhance the diagnostic potential of magnetic resonance imaging (MRI). On the biotechnological side, magnetic labeling of cells and biomolecules with MPs followed by magnetic separation has been utilized for the isolation and analysis of nucleic acids and specific cells, for protein purification, for the detection of pathogenic bacteria and viruses, and for gene transfection.