Utilization of efficient, safe and controllable alternative energization approaches towards green and sustainable processes is vigorously explored in the field of process intensification. In this contribution, magnetic fields are specifically discussed and possible mechanisms to exploit this form of energy excitation for fluid-phase mixing in confined spaces are introduced. Magnetic nanofluids are par excellence the most suitable media for transmission of magnetic energy into a target fluid. In addition, their benign nature makes them suitable candidates for biological applications in microfluidics. The interaction of magnetic fluids with magnetic fields, as governed by the equations of motion in ferrohydrodynamics, can generate different mechanisms for fluidic actuations. These mechanisms are mainly the result of the type of magnetic field enabled, e.g., non-uniform static, oscillating or rotating magnetic fields, their strength or the magnetization of polar fluids, in addition to the momentum exchange induced between the rotating magnetic nanoparticles and the carrier fluid in rotating magnetic fields. With an emphasis on applications in microfluidic devices, the review of recent advances in the present contribution shows how such a variety of magnetic fields can be taken advantage of to mix fluids. Mixing in electrically conducting fluids in the framework of magnetohydrodynamics, as another class of magnetic field-assisted mixing is also another subject of this review. This latter category benefits from the absence of magnetic nanoparticles but on the other hand requires complex structuring of mixing devices as imposed by indispensable and appropriate interactions between electric and magnetic fields. The reviewed research findings in this category show how the generation of complex fluid motions is attainable specifically in micron-sized conduits.