We calculate the baryon magnetic moments using covariant Chiral Perturbation Theory (χPT) within the Extended-on-mass-shell (EOMS) renormalization scheme. By fitting the two available low-energy constants (LECs), we improve the Coleman-Glashow description of the data when we include the leading SU(3) breaking effects coming from the lowest-order loops. This success is in dramatic contrast with previous attempts at the same order using Heavy Baryon (HB) χPT and covariant Infrared (IR) χPT. We also analyze the source of this improvement with particular attention on the comparison between the covariant results. PACS numbers: 12.39.Fe, 14.20.Dh, 14.20.Jn,13.40.Em In the limit that SU(3) is an exact flavour symmetry it is possible to relate the magnetic moments of the baryon-octet and the ΛΣ 0 transition to those of the proton and the neutron. These are the celebrated Coleman-Glashow formulas [1]. The improvement of this description requires the inclusion of a realistic SU(3)-breaking mechanism. Chiral Perturbation Theory (χPT), as the realization of non-perturbative QCD at lowenergies [2,3,4], should be an appropriate framework to tackle this problem in a systematic fashion. However, it was soon noticed that the leading-order chiral corrections are large and tend to worsen the results [5,6]. This problem has often been used to question the validity of SU(3)-χPT in the baryon sector.In the last decade several calculations in HBχPT up to nextto-next-to-leading order (NNLO) have been performed both with [6,7,8] and without [9] the inclusion of the baryon decuplet. The large number of LECs appearing at this order reduces the predictive power of the theory. Besides that, it is also known that there are substantial relativistic corrections [10].The development of covariant χPT has been troubled by the complications in the power counting introduced by the baryon mass as a new large scale [3]. Different ways of solving this problem, such as the IR [11] and, more recently, the EOMS [12] renormalization schemes, have been explored. In SU(3) BχPT only the self-energies have been studied with both schemes [13,14]. The baryon-octet magnetic moments have been calculated using the IR method [15] and, at NLO, the SU(3)-breaking corrections are still large. Moreover, the agreement with the data is even worse than in HBχPT. The size of NLO terms raises the question about the convergence of the chiral series [7,9,16].In this letter we present a covariant calculation of the baryon-octet magnetic moments at O(p 3 ) (NLO) using the EOMS renormalization technique. In contrast to the previous works, we find small loop-corrections leading to a considerable improvement over the SU(3)-symmetric description. We also show the results in HB and covariant IR χPT, and investigate the origin of the differences.In χPT, the power counting (PC) provides a systematic organization of amplitudes as a perturbative expansion in powers of (p/Λ χSB ) nχP T , where p is a small momentum or scale and Λ χSB , the chiral symmetry breaking scale. In the onebar...