<p>The challenges associated with low grade, fine grain size, and complex mineralogy of global mineral resources are becoming more pronounced. Traditional mineral processing technologies generally have problems such as low efficiency and serious environmental pollution, which are difficult to meet the needs of efficient utilization of resources and green development. Magnetic separation technology has become a key technology in the field of mineral processing due to its core advantages such as environmental protection, low energy consumption and high separation efficiency. At present, about 80% of the world’s iron ore purification relies on this technology, and its application scenarios are gradually expanding to many fields. In this paper, the separation mechanism, core equipment and process development status of magnetic separation technology are systematically reviewed. The application progress of magnetic separation technology in the fields of strategic mineral resources enrichment, resource recovery and biomedicine is described in detail. The future technology optimization direction and development trend are prospected, which provides a reference for further research and industrial application of magnetic separation technology.</p> Graphical Abstract <p></p>