Biodegradable magnesium (Mg) alloys are expected to be promising materials for cardiovascular stents (CVS), which can avoid the long-term clinical problems of current CVS, such as in-stent restenosis, late stent thrombosis, etc. Mg alloy stents exhibit superior biocompatibility and tunable biodegradability, compared with conventional permanent metallic stents. However, the poor formability and non-uniform corrosion of Mg alloy stents hinder their clinical application of CVS. This review focuses on the development of Mg alloys for CVS in recent years. According to the results of bibliometric analysis, we analyzed different biodegradable Mg alloy systems. Moreover, the structural design strategies for Mg alloy stents that can reduce the stress concentration, as well as the surface modification methods to control the corrosion behavior and biological performance of Mg alloy stents are also highlighted. At last, this review systematically discussed the potential directions and challenges of biodegradable magnesium stents (BMgS) in cardiovascular fields.