Voltage controlled magnetic components, which consist of dynamically controllable inductances and transformers, are a promising yet understudied technology of growing interest. In fact, these components offer circuit designers an additional degree of freedom to achieve multi-objective optimization with improved Pareto fronts. This article provides a review of some technologies that can be used to create controlled magnetics, including emerging technologies with high potential. Furthermore, a list of possible applications are proposed, where these components can provide a significant advantage in terms of efficiency, size reduction, or controllability. Special emphasis is laid on a use case: a 20 kW multiport dc–dc converter in which power flow control is achieved using voltage-controlled inductors based on partially saturable magnetic cores.