Progress in our understanding of the magnetic properties of R-containing icosahedral quasicrystals (R = rare earth element) from over 20 years of experimental effort is reviewed. This includes the much studied R-Mg-Zn and R-Mg-Cd ternary systems, as well as several magnetic quasicrystals that have been discovered and investigated more recently including Sc-Fe-Zn, R-Ag-In, Yb-Au-Al, the recently synthesized R-Cd binary quasicrystals, and their periodic approximants. In many ways, the magnetic properties among these quasicrystals are very similar. However, differences are observed that suggest new experiments and promising directions for future research.