The baryon magnetic and transition magnetic moments are computed in heavy baryon chiral perturbation theory in the large-Nc limit, where Nc is the number of colors. One-loop nonanalytic corrections of orders m 1/2 q and mq ln mq are incorporated into the analysis, where contributions of both intermediate octet and decuplet baryon states are explicitly included. Expressions are obtained in the limit of vanishing baryon mass differences and compared with the current experimental data. Furthermore, a comparison with conventional heavy baryon chiral perturbation theory is carried out for three light quarks flavors and at the physical value Nc = 3.1/2 q and m q ln m q . Caldi and Pagels [16] focused on calculating what were supposed to be the leading corrections, namely, those of order m 1/2 s , and concluded that, in general, the corrections turned out to be at least as large as the zeroth-order contribution so that the perturbation expansion would break down. In turn, Gasser et. al. [17] reanalyzed