Environment friendly lead-free multifunctional perovskites have gained significant research interest recently due to potential magnetic applications. Substitution of toxic Pb2+ with nontoxic magnetically active transition metal ions can give rise to a wide range of magnetic properties including ferromagnetism, ferrimagnetism, and spin glass behavior. Inorganic oxide perovskites having general formula ABO3 provides liberty to accept different cations at A and B site to give rise robust magnetic ordering and magnetoelectric coupling for applications in magnetic sensors and spintronics. In parallel, double perovskites having formula A2BB′O6 represent half metallic magnetic properties essential for spin filters and high sensitivity magnetic sensors. Lanthanum based manganite perovskites have been explored for their robust magnetoresistive properties ideal for magnetic field sensor applications. Recent advances in synthesis, characterization techniques and theoretical modelling have enhanced the performance and stability of lead-free perovskite materials. Even though the current research is going on to address the challenges like low Curie temperature and stability, lead free magnetic perovskites emerge as promising materials for sustainable and innovative applications. In this chapter, a comprehensive study of various classes of lead-free magnetic perovskites have been presented. Lead free transition metal oxides, multiferroic perovskites, manganites and double perovskites have been studied in detail with their potential applications.