This mini-review is dedicated to apatite composites (mainly hydroxyapatite, HA) with magnetic materials. In such composites, the magnetic components are generally represented by iron oxides, ferrites, and some lanthanide ions. HA is known as a typical bioactive material with excellent osteoconductivity, biocompatibility, and chemical and the biological similarity with the mineral constituents of human bones and teeth. Introduction of magnetic (nano)particles or substitution of Ca2+ ions in the HA structure with magnetic ions allows novel applications of the formed magnetic materials and nanomaterials. The formed composite materials are widely used mainly in nanomedicine for hyperthermia cancer therapy, in drug delivery by guiding them to relevant site of the body or the release of drugs by an external magnetic field, as well as for purposes of environmental protection and fabrication of flame-retardant magnetic materials.