The rapidly emerging field of 2D magnetic materials has garnered significant attention due to its fascinating physical properties and wideâranging potential applications. This review highlights the importance of magnetoâoptical interactions as a crucial tool for both studying and modulating 2D magnets. It offers a comprehensive survey of current research concerning magnetoâoptical interactions in 2D magnetic materials, encompassing the magnetoâoptical Kerr effect, reflection magnetic circular dichroism, secondâharmonic generation, photoluminescence, inelastic light scattering, and timeâresolved spectroscopy. This review discusses how these techniques provide insights into the properties of 2D magnets, enabling exploration of magnetic phase transitions, lattice alterations, spin dynamics, as well as their responses to external fields. Moreover, it emphasizes the modulation of magnetic properties by photoâstimulation and offers a brief outlook on this swiftly developing field.