Abstract <p>Mg and its alloys are emerged as promising materials for biomedical applications due to their favorable biodegradable and biocompatible properties. However, a major barrier to their widespread clinical applications is their rapid degradation in in vivo, which can undermine structural integrity, release hydrogen gas, and potentially impair biocompatibility. Unlike conventional methods that typically focus on either changing the metal composition or modifying the surface alone, current work takes a more thoughtful and combined approach. This review emphasizes on addition of alloying elements, i.e., strontium, manganese zinc, and calcium (non-rare earth elements-NREEs), along with selective rare earth elements (REEs) includes, gadolinium, yttrium, and neodymium, enhances the resistance to corrosion and biocompatibility. This review brings various opportunity to obtain optimized balance between decomposition, stability, and compatibility, helps to develops Mg-based implants that can be used successfully in biomedical application. This review also fulfills the gaps between material science and biomedical engineering to solve the problem of selecting an Mg-based implant for clinical purpose.</p> Graphical Abstract <p></p>