Magnetic field is ubiquitous in our life. In order to explore the biological effect of magnetic field, a lot of research work has been carried out. As an emerging model organism, zebrafish plays an important role in exploring the relationship between magnetic fields and physiological functions. This paper reviews the current studies on magnetobiology in zebrafish. Previous studies have shown that magnetic fields can cause developmental malformation, lead to cell apoptosis and delayed zebrafish development, affect zebrafish swimming behavior and direction preference, change their circadian rhythms, and affect reproductive and immune functions. Zebrafish may have more than one magnetic induction mechanism, in addition to the current proposed magnetic ore crystal model, radical-pair mechanism model and electromagnetic induction model. Magnetic field-induced DNA damage, abnormal Ca²⁺ homeostasis, changes in microtubule polymerization rate, stress response, and changes in the expression of the circadian clock gene cry can partially explain the above phenomena. In view of the existing problems such as inconsistent parameters and unclear mechanism in biological magnetic induction research, combined with the advantages of zebrafish, the authors propose the potential direction of zebrafish in magnetic biology research in the future: to establish magnetic fields and biological parameters controllable magnetic biology research model based on zebrafish; non-invasive in vivo tracking of related life activities, visualized study of magnetic biological phenomena; research on the relationship between magnetic fields and biological rhythms based on Cry protein.