Current limitations of regenerative medicine strategies may be overcome through the use of magnetic nanoparticles (MNPs), a class of nanomaterial typically composed of magnetic elements that can be manipulated under the influence of an external magnetic field. Cell engineering approaches following the internalization of these MNPs by cells and/or the incorporation of these nanosystems within 3D constructs (scaffolds or hydrogels) may constitute a new attractive approach to achieve a magnetically-responsive system enabling remote control over tissue engineered constructs in an in vivo scenario. Moreover, the incorporation of bioactive factors within these MNPs also enables a targeted and smart delivery of biomolecules to specific regions and/or triggering specific cells response upon external magnetic stimulation. Certainly one of the most attractive properties of MNPs is their ability to be used as theranostic tools for regenerative medicine applications, enabling live monitoring and tracking of the system while simultaneously acting as a therapeutic stimulation.