Recently, there has been a significant focus on the issue of antibiotic pollution in water bodies. As a novel adsorbent material, magnetic biochar exhibits excellent potential for antibiotic removal due to its exceptional porosity, extensive surface area, abundant functional groups, and ease of recovery. This paper outlines the typical characteristics of magnetic biochar compared to conventional biochar. It summarizes the principles of various preparation methods, including pyrolysis, coprecipitation, hydrothermal synthesis, and ball milling, while comparing the crucial preparation conditions that must be considered for each method. In addition to controlling temperature, preparation time, and the ratio of magnetic material to biochar, further modifications with different reagents are discussed as potential means to enhance antibiotic adsorption capacity. The paper provides a detailed analysis of adsorption mechanisms such as pore filling, π—π conjugation, complexation, and electrostatic interactions, elucidating magnetic materials′ role during adsorption. Furthermore, the study reviews the recent progress in coupling magnetic biochar with other water treatment methods, such as photocatalysis and Fenton reactions. Finally, the paper outlines future research directions and application prospects for magnetic biochar, providing guidance for optimizing its design and enhancing the removal efficacy of antibiotic from water treatment.