The relationship between magnetism and catalysis has been an important topic since the mid-20th century. At present time, the scientific community is well aware that a full comprehension of this relationship is required to face modern challenges, such as the need for clean energy technology. The successful use of (para-)magnetic materials has already been corroborated in catalytic processes, such as hydrogenation, Fenton reaction and ammonia synthesis. These catalysts typically contain transition metals from the first to the third row and are affected by the presence of an external magnetic field. Nowadays, it appears that the most promising approach to reach the goal of a more sustainable future is via ferromagnetic conducting catalysts containing open-shell metals (i.e., Fe, Co and Ni) with extra stabilization coming from the presence of an external magnetic field. However, understanding how intrinsic and extrinsic magnetic features are related to catalysis is still a complex task, especially when catalytic performances are improved by these magnetic phenomena. In the present review, we introduce the relationship between magnetism and catalysis and outline its importance in the production of clean energy, by describing the representative case of 3d metal Pt-based alloys, which are extensively investigated and exploited in PEM fuel cells.