We report that the effect of an external magnetic field on the propagation of surface plasmons can be effectively modified through the coupling between localized (LSP) and propagating (SPP) surface plasmons. When these plasmon modes do not interact, the main effect of the magnetic field is a modification of the wavevector of the SPP mode, leaving the LSP virtually unaffected. Once both modes start to interact, there is a strong variation of the magnetic field induced modification of the SPP dispersion curve and, simultaneously, the LSP mode becomes sensitive to the magnetic field.