In this study, we investigated the behaviour of heavy Quarkonia in hot and magnetized quark-gluon plasma, incorporating the phenomena of Inverse Magnetic Catalysis (IMC). Specifically, we modified the effective quark masses by incorporating the magnetic field-dependent Debye mass, which affects the screening of the quark-antiquark potential. Previous studies on Debye screening mass in magnetized medium overlooked a crucial aspect: the impact of Inverse Magnetic Catalysis near the transition temperature. In this work, we address this gap by incorporating both Magnetic Catalysis (MC) and IMC effects through a medium-dependent constituent quark mass. Our analysis yielded the real and imaginary parts of the heavy quark potential in this magnetized environment. We then evaluated the binding energy to comment on the dissociation temperatures of these bound states in the presence of the magnetic field.