The Sturmian expansion of the generalized Dirac-Coulomb Green function [R. Szmytkowski, J. Phys. B 30, 825 (1997); 30, 2747(E) (1997] is exploited to derive a closed-form expression for the magnetizability of the relativistic one-electron atom in an arbitrary discrete state, with a pointlike, spinless and motionless nucleus of charge Ze. The result has the form of a double finite sum involving the generalized hypergeometric functions 3F2 of the unit argument. Our general expression agrees with formulas obtained analytically earlier by other authors for some particular states of the atom. We present also numerical values of the magnetizability for some excited states of selected hydrogenlike ions with 1 Z 137 and compare them with data available in the literature.