Traumatic spinal injuries are unfortunately common and are clinically important given their potential for severe morbidity and even mortality. Imaging plays a critical role in the evaluation of patients with acute spine trauma. While computed tomography (CT) is well established as the initial imaging modality for evaluating patients with known or suspected spinal trauma, emerging roles for magnetic resonance imaging (MRI) in guiding the emergent management and triage for patients continue to evolve. This review will focus on the added value and limitations of MRI in acute spinal trauma evaluation. Specifically, clinical and imaging indications for MRI will be reviewed. A structured approach to MRI for assessing spinal stability in the context of imaging-based classification systems will also be discussed, with emphasis on the AOSpine cervical subaxial and thoracolumbar classification schemes. MRI assessment of spinal canal contents, with emphasis on the injured spinal cord for both diagnostic and prognostic purposes, will be highlighted. Finally, the added value of MRI for assessing paraspinal soft-tissue injury, specifically for evaluation of whiplash-associated disorder, will be reviewed.