The combination of light weight, strength, biodegradability, and biocompatibility of magnesium (Mg) alloys can soon break the paradigm for temporary orthopedic implants. As the fulfillment of Mg-based implants inside the physiological environment depends on the interaction at the tissue–implant interface, surface modification appears to be a more practical approach to control the rapid degradation rate. This article reviews recent progress on surface modification of Mg-based materials to tailor the degradation rate and biocompatibility for orthopedic applications. A critical analysis of the advantages and limitations of the various surface modification techniques employed are also included for easy reference of the readers.