Metal clusters with tunable magnetism and chemical activity are ideal models to study magnetic order changes from microstructures to macroscopic substances, to understand the spin effect in diverse catalytic reactions, and to create information carriers of qubits in quantum computation. Precise preparation, reaction, and characterization of magnetic clusters provide a platform to understand spin-exchange interactions and geometrical/electronic structure-property relationships; thus, they are beneficial for the rational design and development of new cluster-genetic materials and spintronics microdevices. Advances in this field have discovered some high-spin magnetic clusters and superatoms, expanding the understanding of magnetism, aromaticity, cluster stability, and electron delocalization. Herein we present a perspective of the experimental and theoretical progress regarding magnetic clusters and superatoms, with the expectation of stimulating more research interest in this field.