Conventional anti-wear approaches lead to energy inefficiency and excessive waste, posing significant challenges to sustainability and cleaner production. Herein, we investigate the influence of eco-friendly magnetic fields on the tribological behavior of interfaces, with an emphasis on the formation and characteristics of the protective tribofilm. The experimental design combined finite element analysis and friction tests to systematically reveal the relationship between magnetic field strength, oxidation of wear debris, and tribological properties. The results demonstrated that the introduction of a magnetic field led to a 22% reduction in the friction coefficient and a 28% decrease in wear volume. High-intensity magnetic fields refined the wear debris by up to 42.6% and also promoted the oxidation of wear debris, leading to a predominance of Fe3O4 in the tribofilm. The structured arrangement and reorganization of Fe3O4 particles within the tribofilm enhance its density and thickness (from 2 μm to 3 μm). Simultaneously, the rotational motion of Fe2O3 particles at the interface modifies the friction contact state, thereby refining friction performance. The findings underscore the significance of considering magnetic fields in the design of tribological systems for enhanced performance and sustainability.