Microalgae and cyanobacteria include procaryotic and eucaryotic photosynthetic micro-organisms that produce biomass rich in biomolecules with a high value. Some examples of these biomolecules are proteins, lipids, carbohydrates, pigments, antioxidants, and vitamins. Currently, microalgae are also considered a good source of biofuel feedstock. The microalga-based biorefinery approach should be used to promote the sustainability of biomass generation since microalga biomass production can be performed and integrated into a circular bioeconomy structure. To include an environmentally sustainable approach with microalga cultures, it is necessary to develop alternative ways to produce biomass at a low cost, reducing pollution and improving biomass development. Different strategies are being used to achieve more productivity in cultivation, such as magnets in cultures. Magnetic forces can alter microalga metabolism, and this field of study is promising and innovative, yet remains an unexplored area. This review presents the current trends in the magnetic biostimulation of microalgae for the application of cultivated biomass in different areas of biotechnology, biofuel, and bioenergy production, as well as environmental protection.