Magnesium (Mg)-based biomaterials transform inherent limitations—rapid degradation and suboptimal strength—into therapeutic advantages for orthopedic regeneration. Contrary to industrial perceptions, the moderate corrosion rate and bone-mimetic stiffness (~30 GPa) of Mg synergistically support tissue repair: degradation products activate multiple pathways to enhance functional bone regeneration. Clinical translation milestones include China’s first NMPA-approved Mg-based 3D-printed scaffold. Future advancement hinges on three pillars: biomimetic structural design, material refinement, and smart implants. By redefining the “shortcomings” of Mg as regenerative assets, this paradigm accelerates functional bone reconstruction across orthopedic scenarios.