AbstractMagnet filler–polymer matrix composites (Magpol) are an emerging class of morphing materials. Applications of Magpol can include artificial muscles, drug delivery, adaptive optics and self healing structures. Advantages of Magpol include remote contactless actuation, several actuation modes, high actuation strain and strain rate, self‐sensing and quick response. The actuation modes of Magpol, its dynamic properties, work output and transduction characteristics are described. Analogies between Magpol actuation and phase transformations are presented. As an illustration of Magpol actuation, a proof of concept artificial muscle is presented. Current applications and future prospects are described.