A magnetically responsive photonic crystal of colloidal nanosheets can exhibit a controllable structural color, offering diverse potential applications. In this study, we systematically investigated how the lateral sizes of graphene oxide (GO) nanosheets affect their magnetic responsiveness in a photonic system. Contrary to the prediction that larger lateral sizes of nanosheets would be more responsive to an applied magnetic field based on the magnetic energy of anisotropic materials, we discovered that GO nanosheets with larger lateral sizes in the photonic system scarcely responded to a 12 T magnetic field. The lack of magnetic response may be due to the strongly restricted rotational motion of GO nanosheets by mutual electrostatic forces. In contrast, GO nanosheets with medium lateral sizes readily responded to the 12 T magnetic field, forming a uniaxially oriented structure that resulted in a vivid structural color. However, smaller GO nanosheets displayed a less vivid structural color, possibly because of less structural ordering of GO nanosheets. Finally, we found that the photonic crystal of GO nanosheets with optimized lateral sizes responded effectively to the 12 T magnetic field across various GO concentrations, resulting in a vivid and tunable structural color.