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Due to the development of superconducting magnets, the magnetic filtration process is now undergoing its biggest evolution since its conception. In Japan, the first industrial superconducting magnetic filter has been successfully applied for factory wastewater treatment. Much effort in both theory and practice is needed to further contribute to the new developments of this high gradient magnetic filtration process. In this substantial review, we have collected the most important theoretical and practical data about magnetic filtration, its recovery and design to establish a good framework for further development of this amazing technology.